If the Supply of Timber Is Inelastic That Means

question 55

Multiple Choice

If the supply of timber is inelastic that means

• A) the quantity demanded does not respond to a change in supply
• B) the quantity supplied responds to a change in demand
• C) the quantity demanded responds to a change in supply
• D) the quantity supplied does not respond to a change in price

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Definitions:

Market Price

The present trading price for an asset or service in the marketplace.

Par Value

Par value is the face value of a bond or the stock value stated in the corporate charter, sometimes used in reference to the nominal value of securities.

Stock Split

A process initiated by a corporation to split its current stock into several shares in order to increase the shares' liquidity.

Market Price

The current price at which an asset or service can be bought or sold in the financial markets.