danielsaunders1994 danielsaunders1994

28-07-2024
Mathematics

Answered

If the price elasticity of supply is 2.5, we know that it is

Answer :

LordFloofMcGoof LordFloofMcGoof

28-07-2024

Answer:

If the price elasticity of supply is 2.5, we know that it is elastic.

Step-by-step explanation:

Elastic supply means that the quantity supplied responds significantly to changes in price. A price elasticity of supply greater than 1 indicates that the supply is elastic.

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