Inputs whose quantity of supply is fixed and does not respond to price increases are said to be
A) elastic in supply.
B) inelastic in supply.
C) elastic in demand.
D) perfectly competitive.

Name: Inputs whose quantity of supply is fixed and does not respond to price increases are said to be A) elastic in supply. B) inelastic in supply. C) elastic in demand. D) perfectly competitive.
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Question

Quizplus · Accepted Answer

Inputs whose quantity of supply is fixed and does not respond to price increases are said to be inelastic in supply.

Inputs Whose Quantity of Supply Is Fixed and Does Not