A supply curve parallel to the X-axis indicates?

By: |Published on: Nov 6|Categories: Economics WAEC| 0 comments

A. fairly elastic supply
B. infinitely elastic supply
C. fairly inelastic supply
D. perfectly inelastic

Correct Answer: Option B

B. infinitely elastic supply

Explanation

Infinitely elastic supply:- by definition, means that any decrease in the product price would immediately cause the supply to shift to zero

Users Also Read These:

SEE ALSO  Which of the following is not a characteristics of money?

Copyright warnings! Do not copy.