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Question

The supply is said to be ________, when a very insignificant change in price leads to an infinite change in quantity supplied.

A
relatively more elastic
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B
perfectly elastic
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C
perfectly inelastic
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D
relatively inelastic
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Solution

The correct option is C perfectly elastic
When a very significant change in price leads to an infinite change in quantity supplied, the supply is said to be perfectly elastic.
Hence, the correct option is B.

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