The supply is said to be ______, when a change in price produces no change in the quantity supplied of a commodity.

relatively more elastic

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perfectly elastic

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perfectly inelastic

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relatively inelastic

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Solution

The correct option is C perfectly inelastic
Perfect inelastic supply is when there is no change in quantity supplied when the price changes. Examples include products that have limited quantities, such as land or painting from deceased artists.
Hence, the correct option is C.

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Similar questions

Q. The supply is said to be ________, when a very insignificant change in price leads to an infinite change in quantity supplied.

Q. The supply is _________, when a small change in price causes a greater change in quantity supplied.

Q. The supply is __________, when a greater change in price leads to smaller change in quantity supplied.

Q. When price of a good rises from

R s . 8

per unit to

R s . 10

per unit, producer supplies

40

units more. Price elasticity of supply is

2

. What is the quantity supplied before the price change? Calculate.

When the price of a good rises from Rs. 8 per unit to Rs. 10 per unit, the producer supplies 40 more units. Price elasticity of supply is 2. What is the quantity supplied before the price change? Calculate.

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The supply is said to be ______, when a change in price produces no change in the quantity supplied of a commodity.

The correct option is C perfectly inelasticPerfect inelastic supply is when there is no change in quantity supplied when the price changes. Examples include products that have limited quantities, such as land or painting from deceased artists.Hence, the correct option is C.

The correct option is C perfectly inelastic
Perfect inelastic supply is when there is no change in quantity supplied when the price changes. Examples include products that have limited quantities, such as land or painting from deceased artists.
Hence, the correct option is C.