Increase in the demand for the product

Question

If a product has a short-run elasticity of supply equal to zero, then an increase in the demand for the product will:
have no effect on price or quantity sold.
increase price and reduce the quantity sold to zero.
increase price and leave quantity sold unchanged.
leave the price unchanged and reduce the quantity sold.

Posted Date: 1/28/2014 8:50:24 PM | Location : United Kingdom(UK)

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