Which of the following situations will occur,given a vertical supply curve
A)Suppliers will not respond to a change in price.
B)An infinite quantity will be supplied at a given price.
C)Suppliers will refuse to sell the product at the current market price.
D)If the price of the product increases, quantity supplied will increase substantially.

Question

Quizplus · Accepted Answer

A vertical supply curve indicates that the quantity supplied is fixed and does not change with price, meaning suppliers do not respond to price changes.

Which of the Following Situations Will Occur,given a Vertical Supply