Economy, asked by aairahahmed, 3 months ago

Activity
Discuss in pairs why the price elasticity of supply of the following products will differ:
1 Smartphones
2 Organic vegetables
3 Fresh flowers
4 Hotels
5 Ferrari cars.​

Answers

Answered by vikashpatnaik2009
5

Answer:

The price elasticity of supply is determined by: Number of producers: ease of entry into the market. Spare capacity: it is easy to increase production if there is a shift in demand. Ease of switching: if production of goods can be varied, supply is more elastic.

Explanation:

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