How would you algebraically write a perfectly elastic supply?
Will it be infinite at price = 4? (The choice of the number 4 is completely arbitrary)
$\begingroup$
$\endgroup$
Add a comment
|
1 Answer
$\begingroup$
$\endgroup$
1
Yeah, that's pretty much it for any horizontal or vertical line:
P = p0
-
4$\begingroup$ Vertical line wouldn’t be the same. That would be $Q = Q_0$. Because at every price the quantity would be constant $\endgroup$– BrennanOct 15, 2019 at 5:37