Question

Explain any two factors determine the elasticity of supply

Answer 1

${\huge {\mathfrak {Answer :-}}}$

➡️ The elasticity of supply measures the percentage change in supply due to a change in another factor.

➡️ The availability of resources affects supply elasticity.

➡️ If an economy is using a lot of its scarce resources to produce a good or a service, a company finds it difficult to increase the supply of that good or service.

That's it..

Answer 2

Explanation:

➡️ The elasticity of supply measures the percentage change in supply due to a change in another factor.

➡️ The availability of resources affects supply elasticity.