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The elasticity of supply for some product will tend to be larger

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The elasticity of supply for some product will tend to be larger

The elasticity of supply for some product will tend to be larger

▸ the higher is the elasticity of demand for the product.

▸ the easier it is for firms to shift from the production of this product to another.

▸ the harder it is for firms to shift from the production of this product to another.

▸ the lower is the elasticity of demand for the product.

▸ the less time firms have to adjust to price changes.

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Microeconomics

Edition: 17^th

Author: Ragan

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Saharak

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JohnCena494 Author

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Thanks for your help!!

deathwing

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Smart ... Thanks!

ealvino1610

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You make an excellent tutor!

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