A supply curve parallel to the X- axis indicates?
ECONOMICS
WAEC 2018
A supply curve parallel to the X- axis indicates?
- A. fairly elastic supply
- B. infinitely elastic supply
- C. fairly inelastic supply
- D. perfectly inelastic
Correct Answer: B. infinitely elastic supply
Explanation
infinitely elastic supply, by definition, means that any decrease in the product price would immediately cause the supply to shift to zero
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