If the Supply of a Product Is Inelastic, a Large

question 127

Multiple Choice

If the supply of a product is inelastic, a large price increase will:

• A)not have an effect on the quantity supplied.
• B)only bring about a small increase in quantity supplied.(True Answer )Correct
• C)cause the supply curve to increase by a nontrivial amount.
• D)cause a modest decrease in supply.

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