Economics
JAMB 1978
If the demand of a product with perfectly elastic supply increases, there will be
-
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
Correct Answer: Option B
Explanation
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