JAMB Economics 2012 Objective — Question 16

Question 16 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.

If quantity supplied is constant irrespective of price changes, the supply elasticity is

A. unitary
B. infinity
C. fairly elastic
D. perfectly inelasticCorrect

Explanation

Perfectly inelastic supply means that, quantity does not respond to any change in price.

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