If the Quantity Supplied Stays the Same No Matter What

question 81

Multiple Choice

If the quantity supplied stays the same no matter what the price is, then supply is

• A) perfectly inelastic.
• B) perfectly elastic.
• C) unit elastic.
• D) undefined.

---

Definitions:

Single-Price Monopolist

A monopolist who charges all consumers the same price for goods or services, regardless of production cost or demand differences.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable.

Average Cost Price

The average cost price is the total cost of production divided by the number of units produced, showing the average expense for each unit.

Profit or Loss

The financial outcome of an enterprise's operations, where profit results from revenues exceeding expenses and loss occurs when expenses surpass revenues.