If the quantity supplied is the same regardless of price, then supply is
A) elastic.
B) perfectly elastic.
C) perfectly inelastic.
D) inelastid.

Question

Quizplus · Accepted Answer

When the quantity supplied remains constant, regardless of changes in price, we call it perfectly inelastic supply. This means that there is no responsiveness or sensitivity of supply to price changes. In other words, suppliers will produce and sell the same amount of goods or services whether the price is high or low.

If the Quantity Supplied Is the Same Regardless of Price