WAEC Agricultural Science 2004 Question 56

Question 56

Basic Agricultural Economics

The curve for unitary elasticity of supply for maize flour is given by (see the graphs labelled A to D)

Diagram for this question
  1. A.Graph A
  2. B.Graph B
  3. C.Graph C
  4. D.Graph D
Show the answer and explanation

Answer: A (Graph A)

Explanation

A straight supply line through the origin has unitary elasticity.