A supply curve which is vertical has an elasticity co-efficient of
ECONOMICS
WAEC 2011
A supply curve which is vertical has an elasticity co-efficient of
- A. 0.0
- B. 0.5
- C. 1.5
- D. 2
Correct Answer: A. 0.0
Explanation
A vertical market supply curve is illustrated by a line running up and down on the graph. When a market supply curve is vertical, it represents that the quantity of that good is fixed no matter what the price of the good is. A vertical curve illustrates a good that has zero elasticity.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *