Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
Rapid melting
B
Slow melting
C
No melting
D
Freezing
Understanding the Answer
Let's break down why this is correct
Answer
In the context of supply responsiveness, when a price increase leads to a significant increase in quantity supplied, it is similar to how a rise in temperature causes ice to melt quickly. Just as the heat makes ice turn into water, prompting a fast response, a higher price encourages producers to supply more goods. This relationship highlights how changes in one factor can lead to noticeable changes in another. For example, if the price of oranges rises significantly, farmers might increase their production to take advantage of the higher prices, just like ice melting rapidly when it gets warm. Therefore, if we think of the price increase as "A" and the significant increase in quantity supplied as "B," then the rise in temperature is "C" and the ice melting is the response, making the analogy clear: A:B :: C:ice melting.
Detailed Explanation
When the temperature rises, ice melts quickly. Other options are incorrect because Some might think melting happens slowly; Thinking there is no melting is a mistake.
Key Concepts
Price Elasticity of Supply
Supply Responsiveness
Market Behavior
Topic
Price Elasticity of Supply
Difficulty
medium level question
Cognitive Level
understand
Ready to Master More Topics?
Join thousands of students using Seekh's interactive learning platform to excel in their studies with personalized practice and detailed explanations.