In a very short period market ___________.

supply is fixed

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demand is fixed

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demand and supply are fixed

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none of the above

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Solution

The correct option is A supply is fixed
A very short period market is a market which has a fixed tenure. It is a market where the resources are limited and fixed. Hence, the output is also fixed. Hence, in a very short period market supply is fixed.

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Similar questions

Q. In a very short period the supply.

There are three firms A, B and C in a market. The supply schedule for the market and that for firms A and B is given below. Prepare the supply schedule for firm C.

$\begin{matrix} Price & Firm A & Firm B & Firm C & Market supply 10 & 0 & 25 & 35 20 & 10 & 30 & 60 30 & 20 & 35 & 85 40 & 30 & 40 & 110 50 & 40 & 45 & 135 60 & 50 & 50 & 160 \end{matrix}$