If the quantity supplied responds only slightly to changes in price,what can be said about supply
A)Supply is said to be elastic.
B)Supply is said to be perfectly elastic.
C)Supply is said to be inelastic.
D)Supply is said to be unit elastic.

Question

Quizplus · Accepted Answer

If the quantity supplied responds only slightly to changes in price, it means the supply is not very responsive to price changes, and therefore inelastic.

If the Quantity Supplied Responds Only Slightly to Changes in Price,what