Question

15)For which of the following products or services is supply likely to be inelastic in the short term regardless of whether prices rise or fall? (1point)newspapers staples haircuts cargo ships

Answer 1

Cargo Ships

Step-by-step explanation:

Supply inelasticity refers to a situation where even if companies increase the quantities offered and prices are reduced, (maintaining quality and quantity levels) the response to demand remains practically unchanged. In other words, depending on the product, it is possible to duplicate its offer, reduce or increase its sales price by “x%” and even so the increase or contraction in demand will change at low rates, often close to “0” ( zero). A product that would fit well in this concept are cargo ships.

Cargo ship consumers are not very sensitive to changes in prices and in the offer of this product.

Answer 2

CARGO SHIPS Isvthe product that has inelastic supply in the short term regardless of whether prices rise or fall.

This is because building cargo ships takes a long time so supply changes slowly.