If a 20 Percent Increase in the Price of a Good

question 250

Multiple Choice

If a 20 percent increase in the price of a good does not change the quantity supplied,the

• A) supply is perfectly inelastic.
• B) supply is unit elastic.
• C) supply is perfectly elastic.
• D) supply is elastic.
• E) None of the above answers is correct.

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Definitions:

Somatosensory Cortex

A part of the brain that processes sensory input from various parts of the body, including touch, temperature, and pain.

Parietal Lobe

A region of the cerebral cortex involved in processing sensory information from various parts of the body, understanding spatial orientation, and language and mathematics processing.

Left Hemisphere

The hemisphere of the brain that is typically responsible for the control of language, math, and logical thinking processes.

Language

is the method of human communication, either spoken or written, consisting of the use of words in a structured and conventional way.