Question

Supply of perishable goods is generally :
A) Elastic
B) Inelastic
C) Perfectly elastic
D) Perfectly inelastic​

Answer 1

Answer:

Inelastic

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Answer 2

Explanation:

Perishable goods are goods that get that get decay easily within 2 or 3 days.

E.g. milk products, bread etc.

The law of supply states the direct relationship between the price of a product and quantity supplied of the product.

Inelastic supply is an economic term used to describe the situation in which the quantity supplied of a good or service is unaffected or less affected when the price of that good or service changes.

In case of perishable goods such as vegetables, fruits, and other eatables, the supply would be inelastic.This is because the supply of perishable goods cannot be increased or decreased easily.

As supply cannot be increased or decreased easily, therefore elasticity of supply is said to be relatively inelastic.

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