If a Product Has a Short-Run Elasticity of Supply Equal

question 352

Multiple Choice

If a product has a short-run elasticity of supply equal to zero, then an increase in the demand for the product will

• A)have no effect on price or quantity sold.
• B)increase price and leave quantity sold unchanged.
• C)increase price and reduce the quantity sold to zero.
• D)leave the price unchanged and reduce the quantity sold.

---

Definitions:

Services Rendered

The completed work or duties performed by someone, often referring to professional tasks.

Statement

A document or report summarizing transactions, balances, and other financial information for a specified time period.

Payment

The exchange of funds or items for a service or product.

Balance Due

The amount of money owed on an account or invoice after payments have been applied.