1 answer

A limited number of War of 1504 uniforms have been preserved. No matter how much buyers...

Question:

A limited number of War of 1504 uniforms have been preserved. No matter how much buyers are willing to pay for these uniforms as collectors items, there's no way to increase the quantity of uniforms in existence. Show the supply curve for authentic War of 1504 uniforms.


Answers

In a situation where the supply can't be increased the supply curve will be perfectly inelastic i.e. a straight vertical line at the production level.

A perfectly inelastic supply curve of the War uniforms SI D1 1504 Number of war Uniforms The above graph shows the supply curve of the war uniforms which can't be increased in the quantity.  

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