Question

what is price elasticity of supply

Answer 1

Price Elasticity of Supply is measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good and service to a change in its price.An elasticity of zero indicates that quantity supplied does not respond to a price change: it is fixed in supply.

Answer 2

Answer:

Price elasticity of supply refers to the degree of responsiveness of supply of a commodity with reference to change in its price.