The supply curve for housing in the very short run is likely to be
A) very elastic.
B) very inelastic.
C) unit-elastic elastic.
D) perfectly elastic.

Question

Quizplus · Accepted Answer

In the very short run, the supply of housing is fixed, meaning that there is no time for builders to respond to changes in demand. Therefore, the supply curve for housing in the very short run is likely to be very inelastic.

The Supply Curve for Housing in the Very Short Run