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In Perfectly Elastic Supply; The Supply Curve? - Erudites Academy

In perfectly elastic supply; the supply curve?

by | Jan 2 | Economics WAEC | 0 comments

A. is vertical
B. is horizontal
C. slopes downward
D. slopes upward

Correct Answer:

Option B – is horizontal

Explanation

A perfect elastic supply curve is the one in which the supply curve is perfectly horizontal. It is a theoretical curve and such a curve does not actually exist in practice.

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