what-is-the-market-implication-of-a-perfectly-elastic-supply-curve-when-demand-d

Question

What is the market implication of a perfectly elastic supply curve when demand decreases?

Accepted Answer

Price will remain unchanged, but quantity supplied will decrease.

Answer

Neither price nor quantity supplied will change.

Answer

Price will decrease significantly, but quantity supplied will remain unchanged.

Answer

Both price and quantity supplied will decrease significantly.