What are the determinants of elasticity of supply?

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Solution

The determinants of the elasticity of supply are as follows:

No. of producers

Ease of switching

Ease of storage

Spare capacity

Length of the period of production

Marginal cost of production

Long run vs short run

Also read:

Price Elasticity of Supply

Income Elasticity of Demand Formula

Elasticity of Demand

Price Elasticity of Demand Formula

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