Economy, asked by khatikh499, 4 months ago

explanation on supply and elasticity of supply

Answers

Answered by anha9bkvppm

Answer:

Explanation:

Price elasticity of supply measures the responsiveness to the supply of a good or service after a change in its market price. 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

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