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| 1. |
Define price elasticity of supply. |
| Answer» <html><body><p></p>Solution :If refers to the <a href="https://interviewquestions.tuteehub.com/tag/degree-47" style="font-weight:bold;" target="_blank" title="Click to know more about DEGREE">DEGREE</a> of <a href="https://interviewquestions.tuteehub.com/tag/responsiveness-1187167" style="font-weight:bold;" target="_blank" title="Click to know more about RESPONSIVENESS">RESPONSIVENESS</a> of supply of a commodity with <a href="https://interviewquestions.tuteehub.com/tag/reference-1181544" style="font-weight:bold;" target="_blank" title="Click to know more about REFERENCE">REFERENCE</a> to a change in <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> of such commodity. It is always positive due to direct <a href="https://interviewquestions.tuteehub.com/tag/relationship-1183331" style="font-weight:bold;" target="_blank" title="Click to know more about RELATIONSHIP">RELATIONSHIP</a> between price and quantity supplied.</body></html> | |