> > If the supply of a good is inelastic,

If the supply of a good is inelastic,

a. producers will not change their quantity supplied by much if the...

67 Views

If the supply of a good is inelastic,

a. producers will not change their quantity supplied by much if the market price doubles.
b. a small increase in price will lead producers to sharply increase their quantity supplied.
c. producers have diminishing marginal returns of labor.
d. producers will increase their quantity supplied in response to sharp drops in the market price.

Answer

A. Producers will not change their quantity supplied by much if the market price doubles.

Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 62 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 67 views.

Recommended Questions