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 a change in price will not have a significant impact on the quantity supplied. Inelastic supply occurs when the cost of producing the goods is high and cannot be easily adjusted in the short run.

When Quantity Supplied Is NOT Very Responsive to a Change