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A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is:
  • a)
    Infinite
  • b)
    Zero
  • c)
    Equal to one
  • d)
    Greater than zero but less than one
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A horizontal supply curve parallel to the quantity axis implies that t...
A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is infinite because the supply of the commodity can change to any extent with a small or no change in the price.
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A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is:a)Infiniteb)Zeroc)Equal to oned)Greater than zero but less than oneCorrect answer is option 'A'. Can you explain this answer?
Question Description
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