If the quantity supplied changes little in response to a price change, supply is

a) elastic.

b) inelastic.

c) fixed.

d) unit elastic.

Question

History

Colten Proctor

30 December, 21:45

If the quantity supplied changes little in response to a price change, supply is

a) elastic.

b) inelastic.

c) fixed.

d) unit elastic.

+3

Answers (1)

Know the Answer?

Kirby · Answer 1

If the quantity supplied changes little from a change in price, supply is inelastic. Supply is more elastic when the sellers have greater flexibility to change the amount of a good they produce in response to a change in price.

Explanation:

google

If the quantity supplied changes little in response to a price change, supply isa) elastic.b) inelastic.c) fixed.d) unit elastic.

If the quantity supplied changes little in response to a price change, supply is

a) elastic.

b) inelastic.

c) fixed.

d) unit elastic.