If supply is perfectly inelastic, it follows that a
A)rise in price will not change quantity supplied.
B)fall in price will not change quantity demanded.
C)rise in price will change quantity supplied by more than a fall in price.
D)fall in price will change quantity supplied by more than a rise in price.

Question

Quizplus · Accepted Answer

If supply is perfectly inelastic, it means that the quantity supplied does not change in response to a change in price. Therefore, a rise in price will not change the quantity supplied, but a fall in price will also not change the quantity supplied.

If Supply Is Perfectly Inelastic, It Follows That a