Exercises · Q7
Q.What is the slope of
(i) a horizontal line, and
(ii) a vertical line? Give one economic example of each.
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✓ Free question
- Horizontal line. Here stays the same for every value of , so , giving . Economic example: a perfectly elastic supply curve, where sellers supply any quantity at one fixed price — a horizontal line at that price.
- Vertical line. Here stays the same for every value of , so , making the slope formula undefined (division by zero). Economic example: a perfectly inelastic supply curve, where the same fixed quantity is supplied whatever the price — a vertical line at that quantity.
✓Final answer
Horizontal line: slope = 0 (perfectly elastic supply, one example). Vertical line: slope = undefined (perfectly inelastic supply, one example).
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