Elasticity of supply measures:
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Correct Answer: Option B
Explanation:
Elasticity of supply shows how producers respond to changes in price. It measures how much quantity supplied changes when prices rise or fall. If producers can increase output quickly after price rises, supply is elastic. If output changes slowly, supply is inelastic.
Elasticity of supply shows how producers respond to changes in price. It measures how much quantity supplied changes when prices rise or fall. If producers can increase output quickly after price rises, supply is elastic. If output changes slowly, supply is inelastic.