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WAEC Economics 2018 Question 13

Question 13

Elasticity

A supply curve parallel to the X-axis indicates

  1. A.fairly elastic supply.
  2. B.infinitely elastic supply.
  3. C.fairly inelastic supply.
  4. D.perfectly inelastic supply.
Show the answer and explanation

Answer: B (infinitely elastic supply.)

Explanation

A horizontal supply curve is perfectly (infinitely) elastic.