Explain the meaning of price elasticity of supply.
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The price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. ... An elasticity of zero indicates that quantity supplied does not respond to a price change: the good is "fixed" in supply. and for quantitative term for also these
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The price elasticity of supply (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. ... An elasticity of zero indicates that quantity supplied does not respond to a price change: the good is "fixed" in supply.
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