NABTEB Economics 2022 Objective — Question 11

Question 11 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2022 Objective paper, with the correct answer and a full explanation.

In perfectly elastic supply, the supply curve

A. is vertical
B. is horizontalCorrect
C. slopes upward
D. slopes downward

Explanation

A perfectly/completely elastic supply curve is horizontal (parallel to the quantity axis); price remains the same at different quantities supplied.

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