passwella.
Menu

WAEC Economics 2011 Question 9

Question 9

Elasticity

A supply curve which is vertical has an elasticity co-efficient of

  1. A.0.
  2. B.0.5.
  3. C.1.5.
  4. D.2.
Show the answer and explanation

Answer: A (0.)

Explanation

A vertical supply curve means quantity does not change at all with price: perfectly inelastic, coefficient 0.