Elasticity of supply refers to the degree of responsiveness of supply of a commodity to changes in its

Elasticity of supply refers to the degree of responsiveness of supply of a commodity to changes in its

Q. Elasticity of supply refers to the degree of responsiveness of supply of a commodity to changes in its:

A.           Demand           

B.            Price

C.            Costs of production 

D.           State of technology

Answer: Price

Demand and Supply MCQs
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