If the supply of a factor is perfectly inelastic,then

Name: If the supply of a factor is perfectly inelastic,then
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Question

Quizplus · Accepted Answer

If the supply of a factor is perfectly inelastic, then no matter how high the price goes, the amount of goods supplied remains the same. The supply is fixed at a certain level, and even if the price increases, the supplier cannot provide more than the existing quantity. Therefore, the correct answer is A, "no more than the existing quantity can be supplied."

If the Supply of a Factor Is Perfectly Inelastic,then