Multiple Choice
If the supply curve is perfectly elastic, then an increase in demand will:
A) increase both the price and the quantity exchanged.
B) increase the price but result in no change in the quantity exchanged.
C) increase the quantity exchanged but result in no change in the price.
D) decrease the price but not change the quantity exchanged.
E) do none of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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