a builder must build fifty houses by the end of the year but he has run out of available land. which best…

a builder must build fifty houses by the end of the year but he has run out of available land. which best describes the builders supply of houses? elastic competitive inelastic profitable

a builder must build fifty houses by the end of the year but he has run out of available land. which best describes the builders supply of houses? elastic competitive inelastic profitable

Answer

Answer:

C. inelastic

Brief Explanation:

The builder has run out of land, so despite demand, he can't increase the quantity of houses. In economics, when quantity supplied doesn't respond much to price or other factors (here lack of land limits production), supply is inelastic.