Suppose the supply for product A is perfectly elastic. - Practice (English) | ObjectiveMcq

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Suppose the supply for product A is perfectly elastic. - Practice (English) | ObjectiveMcq

PracticeBusiness ManagementMicroeconomicsSuppose the supply for product A is...

Microeconomics Business ManagementEasy

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Suppose the supply for product A is perfectly elastic. If the demand for this product increases:

Correct Answer:

(B) the equilibrium quantity will increase but the price will not change

Explanation:

the equilibrium quantity will increase but the price will not change

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