Economy, asked by Shineytaneja, 7 months ago

Define the degree of supply passes through Y-axis.

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Answered by Anonymous

1

Answer:

The law of supply indicates the direction of change—if price goes up, supply will increase. ... Elasticity of supply measures the degree of responsiveness of quantity supplied to a change in own price of the commodity. It is also defined as the percentage change in quantity supplied divided by percentage change in price.

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