Accounting Multiple Choice Question – 17 June 2025

An analyst with Big Staffie plc has constructed a supply curve for one of the company’s major products, the Little Staffie.

The curve is is, vertical straight line.

This indicates that supply of the Little Staffie is, therefore?

Select ONE answer:

1. Perfectly inelastic
2. Of unitary elasticity
3. Perfectly elastic
4. One

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct == > A vertical straight line implies that the supply of the Little Staffie is fixed, whatever price is offered.
2. Not correct
3. Not correct
4. Not correct

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