When quantity supplied is not very responsive to a change in price, supply is
A) elastic.
B) unit-elastic.
C) inelastic.
D) income sensitive.

Question

Quizplus · Accepted Answer

When quantity supplied is not very responsive to a change in price, supply is said to be inelastic. This means that if the price of a good or service changes, the quantity supplied will not change much because the producer is not able to easily adjust their production in response to the change in price.

When Quantity Supplied Is Not Very Responsive to a Change