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In perfectly elastic supply, the supply curve

Economics
JAMB 2022

In perfectly elastic supply, the supply curve

  • A. is vertical
  • B. is horizontal
  • C. slopes upward
  • D. slopes downward
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Correct Answer: Option B
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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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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