Multiple choice

Which of the following affects the elasticity of supply?

  1. Technique of production

  2. Time period

  3. Nature of the commodity

  4. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All three factors affect supply elasticity. Production techniques determine flexibility, time period matters (long-run supply is more elastic), and commodity nature (perishable vs durable) affects storage and production response. Options A, B, and C are each correct but incomplete. Supply elasticity depends on all these factors together.

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