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.

Question

Jackeline de los Cuetos · Accepted Answer

Final Answer : C, Explanation :  When the supply of a product is perfectly inelastic, the quantity supplied does not change regardless of the price change. Thus, if the price rises by any percentage and the quantity supplied stays the same, it indicates perfectly inelastic supply.

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.

Definitions

Learning Objectives

Learning Objectives

Related questions

The supply of product X is perfectly inelastic if the price of X rises byA) 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.

Definitions

Learning Objectives

Learning Objectives

Related questions

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.