Question

What is meant by elasticity supply?

What is Elasticity Supply?
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Answer 1

Answer:

Elasticity of supply is measured as the ratio of proportionate change in the quantity supplied to the proportionate change in price. High elasticity indicates the supply is sensitive to changes in prices, low elasticity indicates little sensitivity to price changes, and no elasticity means no relationship with price.

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Answer 2

Answer:

if a body its original size and shape after the removal of deforming force it is said to be elastic body and this property is called elasticity for example if we stretch our Bandhan day release it it snaps back to its original length