Consider the market supply curve for an agricultural commodity, which is almost perfectly horizontal at the world price of $450 per tonne. we can conclude that sellers in this mark

A) will not be responsive to a change in the world price.

B) will continue to supply the same quantity regardless of the price.

C) will sell almost no amount of the product if the price drops below $450 per tonne.

D) will supply no amount of the product if the price rises above $450 per tonne

E) will supply an infinite amount of the product regardless of the price.

Answer rating: 100% (QA)

C If the price of the goods d... View the full answer