Economy, asked by Anonymous, 8 months ago

Draw and briefly explain a perfectly inelastic and a relatively elastic supply curve

Answers

Answered by sk6676299

1

Explanation:

Perfectly elastic supply, by definition, means that any decrease in the product price would immediately cause the supply to shift to zero. ... As you can see, the labor supply has a perfectly elastic curve. If the wage rate of a single firm changes, the supply would have an infinite amount of change

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