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.

Question

Quizplus · Accepted Answer

The ceteris paribus assumption means that all other variables except the one under consideration are held constant. This is essential for isolating the effect of a single factor on demand or supply, making B the correct choice.

Any Given Demand or Supply Curve Is Based on the Ceteris