What is the purpose of an emitter bypass capacitor?
Answer: C
The capacitor shorts the emitter resistor at signal frequencies, restoring the full gain while leaving the direct stabilisation intact. Input coupling is a different capacitor, the collector is not bypassed in a normal stage, and the stabilisation comes from the resistor the capacitor is removing. One component doing nothing for direct current and everything for signals is what lets bias stability and gain be optimised independently. Framing the question as which quantity the change acts upon makes the answer follow without calculation.
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