25 percent divided by 10 percent, or 2.5. The supply of the good has become more elastic...
Question:
25 percent divided by 10 percent, or 2.5. The supply of the good has become more elastic over the year since the price rise. Possibly other producers have gradually started producing the good and with the passage of time more factors of production can be reallocated.(clothing).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: