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This is question is related to PES (price elasticity of supply) Activities 1. Firms will adjust their Supply of a good or service in response

This is question is related to PES (price elasticity of supply)

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Activities 1. Firms will adjust their Supply of a good or service in response to changes in the selling price Following a rise in the price, which of the following businesses will nd it easiest to raise their output levels? . car manufacturers . bespoke shoe producers - c0 [Tee producers. Activity 2 The following diagrams illustrate the supply curve for two products, one represents a firm producing children's toys and the other an olive farmer. Which is which?

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