write four determinants of price elasticity of supply? ( class10 icse)
Answers
Answered by
0
Explanation:
using Identity (a
2
−b
2
)=(a+b)(a−b)
=>p(p
2
−q
2
)(p
2
+q
2
)
=>p[(p)
2
−(q)
2
](p
2
+q
2
)
=>p[(p−q)(p+q)](p
2
+q
2
)
=>p(p−q)(p+q)(p
2
+q
2
)
Answered by
1
Answer:
The four factors that affect price elasticity of demand are (1) availability of substitutes, (2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and (4) how much time has elapsed since the time the price changed.
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