If the demand of a product with perfectly elastic supply increases, there will b...
Question
If the demand of a product with perfectly elastic supply increases, there will beOptions
A)
An increase in price and quantity offered
B)
An increase in quantity offered but price will remain the same
C)
A reduction in price and quantity offered
D)
An increase in price but a reduction in quantity offered for sale
E)
An increase in quantity offered but a reduction in price
Related Lesson: How Perfectly Competitive Firms Make Output Decisions | Perfect Competition
The correct answer is B.
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