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Determinants of Elasticity of Supply

Is the price ...

Question

Is the price elasticity of supply positive or negative?

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Solution

Price elasticity of supply has positive values.

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Q. why there is positive correlation between supply and price negative correlation between demand and price?

Q. If elasticity of demand

= \infty

, equilibrium price remain unchanged,no matter supply increases or decreases. Comment.

At which value price elasticity of supply is said to be elastic?

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