Question

Bond's Gym is not able to expand quickly. It would take a long time and lots of money to hire more workers, buy equipment, and find a bigger building. Based on the graph and the information above, memberships at Bond's Gym are an supply. The owner at Bond's Gym increase the supply of memberships easily and quickly.

Answer 1

Answer:

1. inelastic

2. cannot

Explanation:

edg 2021

Answer 2

The answer to the blank parts of the given statements about Bond's gym  not expanding quickly are; Inelastic and Cannot

Inelastic Supply meaning

From the scenario given and the graph being talked about, we can say that bonds gym is inelastic in supply. This is because it cannot expand quickly and inelastic supply is defined as Supply whose percentage change is less than a percentage change in price.

Lastly, it is clear that he owner at Bond's Gym cannot increase the supply of memberships easily and quickly due to the inelasticity of supply.

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