If the supply of product X is perfectly elastic,an increase in the demand for it will increase:

A) equilibrium quantity but reduce equilibrium price.
B) equilibrium quantity,but equilibrium price will be unchanged.
C) equilibrium price but reduce equilibrium quantity.
D) equilibrium price,but equilibrium quantity will be unchanged.

Perfectly Elastic

A demand situation where the quantity demanded changes infinitely in response to any change in price.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where demand and supply are equal.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.