Explain the various factor affecting Price Elasticity of Supply
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1
Explanation:
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.
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27
Answer:
There are numerous factors that impact the price elasticity of supply including the number of producers, spare capacity, ease of switching, ease of storage, length of production period, time period of training, factor mobility, and how costs react.
Explanation:
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