Elasticity of supply sentence

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Allisson

Social Studies

28 May, 06:01

Elasticity of supply sentence

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Justice Maxwell · Answer 1

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.

Salvatore Compton · Answer 2

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.