This paper focuses on the magnetohydrodynamic (MHD) slip flow of an electrically conducting, viscoelastic fluid past a stretching surface. The main concern is to analytically investigate the structure of the solutions and determine the thresholds beyond which multiple solutions exist or the physically pure exponential type solution ceases to exist. In the case of the presence of multiple solutions, closed-form formulae for the boundary layer equations of the flow are presented for two classes of viscoelastic fluid, namely, the second-grade and Walter’s liquid B fluids. Heat transfer analyzes are also carried out for two general types of boundary heating processes, either by a prescribed quadratic power law surface temperature or by a prescribed quadratic power law surface heat flux. The flow field is affected by the presence of several physical parameters, whose influences on the unique/multiple solutions of velocity and temperature profiles, and Nusselt numbers are examined and discussed.

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