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Draw and briefly explain a perfectly elastic supply curve.
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:max_bytes(150000):strip_icc()/dotdash_Final_How_Does_Price_Elasticity_Affect_Supply_Feb_2020-05-8292c86cbd864bacb9ea6621c7e38441.jpg "How Does Price Elasticity Affect Supply?")
How Does Price Elasticity Affect Supply?
Show with the help of a diagram, the effect on equilibrium price and quantity when:i Demand is perfectly elastic and supply decreases.ii Supply is perfectly inelastic and demand increases.iii The demand curve
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Consumer surplus with perfectly elastic demand
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