Inelastic supply has a numerical value
A) less than 0.
B) less than 1.
C) equal to 1.
D) greater than 1.

Name: Inelastic supply has a numerical value A) less than 0. B) less than 1. C) equal to 1. D) greater than 1.
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Question

Quizplus · Accepted Answer

Inelastic supply is characterized by a price elasticity coefficient of less than 1, indicating that the percentage change in quantity supplied is less than the percentage change in price.

Inelastic Supply Has a Numerical Value