Economy, asked by tiwarichanda985, 1 year ago

What is elasticity of supply? Also write the formula.
Please give answer in ur own words

Answers

Answered by classy46
4

Responsiveness of producers to changes in the price of their goods or services. As a general rule, if prices rise so does the supply. Elasticity of supply is measured as the ratio of proportionate change in the quantity supplied to the proportionate change in price. ... Also called price elasticity of supply.

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tiwarichanda985: thanks buddy
classy46: my pleasure
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