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Question
Do perishable goods have a higher elasticity of supply?
Do perishable goods have a higher elasticity of supply?
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Solution
The supply of perishable goods cannot be increased or decreased as per will. Therefore, the supply of perishable goods is inelastic in nature.
The supply of perishable goods cannot be increased or decreased as per will. Therefore, the supply of perishable goods is inelastic in nature.
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