Question: The supply schedule of product X is given as follows:
|Price (Rs Per Kg.)||Quantity Supplied (Kgs. in thousands)|
The supply curve for product X is shown
Above figure shows that the price of product X remains constant at Rs100 per kg. However, the quantity supplied changes from 40,000 kgs to 80,000 kgs at the same price. Therefore, the supply of product X is perfectly elastic (es=∞).