Post Utme Aaua 2022 Economics Question 31

Practice objective / multiple choice question 31 from the 2022 Post Utme Aaua Economics examination.

Post Utme Aaua 2022 Economics Objective / Multiple Choice
Question 31 POST_UTME_AAUA • 2022 • ECONOMICS • objective

The supply of a commodity is said to be perfectly elastic if the quantity supplied is highly responsive to changes in the price of the commodity. U\sing the concept of elasticity of supply, explain why the supply of a commodity is said to be perfectly elastic.

Answer Options

Correct Answer A. The supply of a commodity is said to be perfectly elastic if the quantity supplied is highly responsive to changes in the price of the commodity.
B. The supply of a commodity is said to be perfectly elastic if the quantity supplied is not responsive to changes in the price of the commodity.
C. The supply of a commodity is said to be perfectly elastic if the quantity supplied is equal to the quantity demanded.
D. The supply of a commodity is said to be perfectly elastic if the quantity supplied is greater than the quantity demanded.
Correct Answer
A
Correct Option:
The supply of a commodity is said to be perfectly elastic if the quantity supplied is highly responsive to changes in the price of the commodity.

About This Question

This is Post Utme Aaua 2022 Economics Question 31. It is one of the objective questions from the 2022 Post Utme Aaua Economics examination.

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