Elasticity of supply sentence

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Social Studies

Kendall Forbes

9 February, 05:41

Elasticity of supply sentence

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Lillianna Kirk · 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.

Landon Harris · 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.