Question

Which of the following products is likely to have an inelastic supply reaction to a change in price? A. Corn B. Cars C. Shoes D. Televisions

Answer 1

The correct answer is C,
A good is said to have an inelastic supply if the suppliers did not have any choice than producing it even though the cost of production is high and the buyers did not have any choice than buying it even though it is expensive.
No one can do without shoes, even if they are expensive, we still need to buy them.

Answer 2

The answer for Penn Foster is NOT SHOES. It should be CORN the reason being in section 1.4 it states that

An inelastic supply is one for which it's difficult to

increase production, even with a large increase in price.