If there is no change in price that can alter the quantity supplied, then the supply for the good is
A. perfectly inelastic.
B. inelastic.
C. perfectly unit elastic.
D. perfectly elastic.
Answer: A
You might also like to view...
A demand-pull inflation is caused by an increase in the demand for output. Therefore, economists say that this type of inflation is actually good for the economy
a. True b. False Indicate whether the statement is true or false
A price ceiling set below the equilibrium price is nonbinding
a. True b. False Indicate whether the statement is true or false
About ________ of recent annual labor force growth in the United States is the result of immigration
A. one-tenth B. one-fifth C. one-third D. one-half
A firm sells 300,00 . units per week. It charges $ 35 per unit, the average variable costs are $ 40, and the average costs are $ 55, the firm should
a. Shut-down as the firm is making a loss of $15 million per week b. Shut-down as the firm cannot cover the variable costs c. Both a and b d. None of the above