Which of the following goods has a perfectly inelastic supply?
A) insulin
B) Diet Pepsi
C) the original portrait of "Whistler's Mother"
D) compact discs by Bush
C
Economics
You might also like to view...
Immigration tends to lower the income of all factors of production. True or false
Indicate whether the statement is true or false
Economics
Exhibit 8-12 Marginal revenue and cost per unit curves
As shown in Exhibit 8-12, if the firm's price is OD, the firm will supply
A. zero units of output because it is unprofitable. B. X units and incur a loss. C. Y units and break even. D. Z units and make an economic profit.
Economics