The horizontal supply curve parallel to quantity axis represents:

Related MCQs

• If a positively sloped linear supply curve crosses the quantity axis, the elasticity of supply is:
• Supply curve represents -------- relationship between quantity and price
• An Indifference Curve to the right of another represents combinations which are:
• The slope of an indifference curve represents:
• Which of the following statements best describes the general form of a production function: (i) It is a purely technological relationship between quantities of input and quantities of output. (ii) It represents the technology of an organisation, sector of an economy. (iii) Prices of inputs or of the output do not enter into the production function. (iv) It is a flow concept describing the transformation of inputs into output per unitof time.
• The Price and quantity relationship for an inferior good is:
• In the case of normal goods, the quantity demanded varies inversely with:
• Change in quantity supplied of a product can result from:
• The curve showing the possibilities of production of desired good is known as:
• Production possibilities curve does not show: