If sellers do NOT respond at all to a change in price:
A)supply must be perfectly inelastic
B)supply must be perfectly elastic
C)a long period of time must have elapsed
D)the rate of technological advancement must be great

Question

Quizplus · Accepted Answer

If sellers do not respond at all to a change in price, it means that the quantity supplied remains the same regardless of the price change. This implies that supply is perfectly inelastic, meaning that the quantity supplied does not change with a change in price.

If Sellers Do NOT Respond at All to a Change