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| 1. |
What is theprice elasticityof supplymean ? How dowe measureit ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> Elasticityof supply means <a href="https://interviewquestions.tuteehub.com/tag/thedegree-1403527" style="font-weight:bold;" target="_blank" title="Click to know more about THEDEGREE">THEDEGREE</a> of responsiveness ofsupplyfor a commditywithreferenceto changein <a href="https://interviewquestions.tuteehub.com/tag/theprice-1410305" style="font-weight:bold;" target="_blank" title="Click to know more about THEPRICE">THEPRICE</a> of suchcommodity.It is measuredas :<br/>Price Elasticity of Supply `E_(s)) = (" Percentage change in QuantitySupplied ")/(" Percntage change in Price")`</body></html> | |