If sellers do not adjust their quantities supplied at all in response to a change in price,
A)advances in technology must be prevalent.
B)the time period under consideration must be very long.
C)supply is perfectly elastic.
D)supply is perfectly inelastic.

Question

Quizplus · Accepted Answer

If sellers do not adjust their quantities supplied at all in response to a change in price, then supply is considered perfectly inelastic. This may occur in the short run, where firms may not be able to change their production levels due to fixed factors of production.

If Sellers Do Not Adjust Their Quantities Supplied at All