A supply curve parallel to the X-axis indicates
...A supply curve parallel to the X-axis indicates
Fairly elastic supply
Infinitely elastic supply
Fairly inelastic supply
Perfectly inelastic supply
Correct answer is B
Infinitely elastic supply curve is parallel to the x-axis i.e at a fixed price, there is change in quantity supplied. es = ∞
An important feature of a cartel is that ...
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