Question: What is meant by inelastic supply? A when a fall in price causes a greater percentage fall in supply B when a fall in price
What is meant by inelastic supply?
A when a fall in price causes a greater percentage fall in supply B when a fall in price causes a smaller percentage fall in supply C when a rise in price causes a fall in supply D when a rise in price causes no change in supply
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
