Explain about perfectly price elastic supply curve

I have a problem on perfectly price elastic supply curve that is given below:

A perfectly price elastic supply curve is: (w) vertical. (x) horizontal. (y) positively sloped. (z) negatively sloped.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Managerial Economics

Q : Average Benefits in Human Capital and

Throughout the past 50 years in the United States, there the average gains in lifetime income related along with having a college degree in addition to a high school diploma have: (1) declined since the larger proportion of the population that is college educated has

Q : Purely competitive equilibrium labor

When this purely competitive labor market is firstly in equilibrium at D0L, S0L, an increase within the price of output will result into equilibrium being attained at: (w) D0L, S0L. (x) D1L, S1L. (y) D2L, S1L. (z) D1L, S0L.

Q : Competitive demand of employer A

A competitive demand of employer for labor is: (1) derived from the demand that exists for the firm’s output. (2) inverted compared to regular demands. (3) shifted rightward by hikes in real wage rates. (4) positively sloped. (4) determined thro

Q : What are the tools and techniques for

What are the tools and techniques for demand estimation?

Q : Illustration of Screening Nick responds

Nick responds “help wanted” that ads by making phone calls and scheduling interviews. If a prospective employer asks for a resume and queries Nick regarding his references and skills, in that case the firms are practicing an illustration of: (i) signaling.

Q : Illustrates the internal economies of

Illustrates the internal economies of scale?

Q : Illustrates the term Elasticity

Illustrates the term Elasticity?

Q : Prevent cheating among members by

A cartel tends to be more successful mainly while this can stop: (1) cheating between its members. (2) increases in the demand for its product. (3) joint profit maximization. (4) international trade. (5) an increase in the price of its product. <

Q : Explain about the signaling Signaling :

Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex

Q : Wage Rates and Marginal Resource Costs

When a firm is a price taker into the labor market and the wage is $80 daily, the marginal resource cost incurred while hiring 20 more workers daily is: (w) $80. (x) $1600. (y) $800. (z) $400.

Discover Q & A

Leading Solution Library

Avail More Than 1422035 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1949218
Asked

3,689

Active Tutors

1422035

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment