The Supply of Product X Is Perfectly Inelastic If the Price

question 10

Multiple Choice

The supply of product X is perfectly inelastic if the price of X rises by

• A)2 percent and quantity supplied rises by 3 percent.
• B)10 percent and quantity supplied rises by 10 percent.
• C)6 percent and quantity supplied stays the same.
• D)12 percent and quantity supplied rises by 10 percent.