Multiple Choice
If a good has a perfectly inelastic short-run supply curve, an increase in demand will:
A) increase the price and quantity exchanged in the short run.
B) increase the price and but leave the quantity exchanged the same in the short run.
C) increase the quantity exchanged but leave the price the same in the short run.
D) leave both price and quantity exchanged the same in the short run.
Correct Answer:
Verified
Correct Answer:
Verified
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