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Elasticity covers a lot of things in economics. It is something which a student should know about when coming to topics related to it. Our elasticity of market supply homework help gets across the concept in easily with simple explanations and examples. It is something which should be clear to all students before they start doing their assignments or homework on this topic or topics related to it. Below we will define most of the things in brief.
What is Elasticity of Market Supply?
It is a measure which is used to show elasticity or responsiveness of quantity of service or product to change in the price of product or service. A zero elasticity shows that quantity which is supplied does not have any response to price change, its supply is “fixed.”Elasticity of market supply homework help explains this with a much more detailed explanation.
Factors which Affect Elasticity of Market Supply
Several factors affect elasticity of supplied goods and services like resource availability, innovative technology and a number of producers. Below the points are explained. For more materials on factors affecting supply elasticity check our elasticity of market supply homework help.
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