Question

• Analyze how an increase in the price elasticity of demand (PED) and the price elasticity
of supply (PES) of its products could benefit a firm.​

Answer 1

Answer:

According to basic economic theory, the supply of a good will increase when its price rises. Conversely, the supply of a good will decrease when its price decreases. There's also price elasticity of demand. This measures how responsive the quantity demanded is affected by a price change