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| 1. |
The followingdiagramshowsthe suppluycurveofthreecommodities : A , B and C . Ranktheir price elasticityof supply |
| Answer» Solution : Commodity A: Highly ELASTIC Supply `(E_(s) GT 1)`, Commodity B: Unitary Elastic Supply `(E_(s) =1)`, Commodity C: Less Elastic Supply `(E_(s) lt 1)`. | |