7. a. rupees 5250 b. rupees 4725 c. 26%
8. rupees 1000
9. a. rupees 1250 b. rupees 1000
(this is answer of my ask question )
ch- profit loss or discount
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Time also exerts considerable influence on the elasticity of supply. Supply is more elastic in the long run than in the short run. The reason is easy to find out. The longer the time period the easier it is to shift resources among products, following a change in their relative prices.
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