If the demand of a product with perfectly elastic supply increases, there will be

Economics

JAMB 1978

A. An increase in price and quantity offered
B. An increase in quantity offered but price will remain the same
C. A reduction in price and quantity offered
D. An increase in price but a reduction in quantity offered for sale
E. An increase in quantity offered but a reduction in price

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Correct Answer: Option B

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If the demand of a product with perfectly elastic supply increases, there will be

Correct Answer: Option B

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