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11 December, 05:18

The price elasticity of supply measures how responsive a. sellers are to a change in price. b. sellers are to a change in buyers' income. c. buyers are to a change in production costs. d. equilibrium price is to a change in supply.

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  1. 11 December, 08:22
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    a. sellers are to a change in price

    Explanation:

    The price elasticity of supply measures the percentage change in quantity supplied with the percentage change in price

    In mathematically,

    Price elasticity of supply = (Percentage change in quantity supplied : percentage change in price)

    It shows a direct relationship between the quantity supplied and the price.
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