Download App

The theory of the firm under perfect competition — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsThe theory of the firm under perfect competition1 Mark
MCQ
A horizontal supply curve parallel to the quantity axis implies that the Elasticity of Supply is OR Which Elasticity of Supply is shown by the supply curve parallel to $X-$axis?
  • A
    Zero.
  • ✓
    Infinite.
  • C
    Equal to one.
  • D
    Greater than zero but less than one.
✓

Answer

Correct option: B.
Infinite.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "M.C.Q (1 Marks)" from The theory of the firm under perfect competition→The theory of the firm under perfect competition — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

In case of diminishing returns to a factor:
→
Demand for water is inelastic because:
→
When more and more units of a variable factor are combined with the fixed factor, the resulting law is called:
→
Monopolist can determine $.........$
→
Specific quantity to be purchased against a specific price of the commodity is called:
→
When both demand and supply increases in the same proportion then equilibrium price will:
→
Marginal revenue of a firm is constant throughout under:
→
Price elasticity of demand is $......$ in number because price and quantity demanded are inversely related:
→
If $\text {PPC}$ shifts to the right, it means:
→
According to $IC$ analysis, a consumer attains equilibrium when:
→