Supply is said to be ____ when the quantity supplied is not very responsive to changes in price.
A)independent
B)inelastic
C)unit elastic
D)elastic

Question

Supply is said to be ____ when the quantity supplied is not very responsive to changes in price.
A)​independent
B)​inelastic
C)​unit elastic
D)​elastic

Quizplus · Accepted Answer

Inelastic supply means that the quantity supplied does not change much in response to changes in price. This can happen when producers are not able to adjust their production in a short period of time or when they incur high costs or have limited resources to increase output.

Supply Is Said to Be ____ When the Quantity Supplied