If the coefficient of price elasticity of supply is greater than one, the supply is…

Economics JAMB 2010

If the coefficient of price elasticity of supply is greater than one, the supply is said to be

  • perfectly elastic
  • fairly inelastic
  • infinitely inelastic
  • fairly elastic checkmark

The correct answer is: D

Explanation

If a price elasticity of supply is greater than 1, it means supply is relatively or fairly elastic

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