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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Cadence Stark

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.

+2

Answers (1)

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Elsie Sheppard · Answer 1

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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If the quantity supplied changes little in response to a price change, supply isa) elastic.b) inelastic.c) fixed.d) unit elastic.

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

a) elastic.

b) inelastic.

c) fixed.

d) unit elastic.