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14 May, 19:30

If the quantity supplied changes little in response to a price change, supply is

a) elastic.

b) inelastic.

c) fixed.

d) unit elastic.

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Answers (1)
  1. 14 May, 19:47
    0
    If the quantity supplied changes little from a change in price, supply is inelastic. Supply is more elastic when the sellers have greater flexibility to change the amount of a good they produce in response to a change in price.

    Explanation:

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