Perfectly elastic supply problem
When will a rise in demand entail an increase in the quantity demanded however no change in the price?
Expert
In case of perfectly elastic supply, the increase in demand causes no change in price however it will lead to a rise in quantity.
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Suppose that the price of peanut packets increases by 5 %, the quantity supplied of peanut increases by 8 %. Then what is the elasticity of supply? Answer: Es = Per
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