Business, 18.03.2021 01:30 ritiguda

If the supply of a good is inelastic, producers will increase their quantity supplied in response to sharp drops in the market price
a small increase in price will lead producers to sharply increase their quantity supplied
O producers have diminishing marginal returns of labor
producers will not change their quantity supplied by much even if the market price doubles

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If the supply of a good is inelastic, producers will increase their quantity supplied in response t...

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