Any given demand or supply curve is based on the ceteris paribus assumption that ___________________.
A. everything is variable.
B. all else is held equal
C. no one knows which variables will change and which will remain constant.
D. what is true for the individual is not necessarily true for the whole.
Answer:B
Any given demand or supply curve is based on the ceteris paribus assumption that ___________________.
A. everything is variable. B. all else is held equal C. no one knows which variables will change and which will remain constant. D. what is true for the individual is not necessarily true for the whole.
Explanation: Type: Multiple Choice Difficulty: Medium Category: Remember