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What is Determinants of Supply Elasticity Explained about?

1. The elasticity of supply depends mainly on how quickly production costs rise with increasing output. If costs rise quickly, supply is inelastic, and if costs remain constant, supply is elastic. 2. The time horizon and industry size in input markets also impact elasticity. In the short-run, supply is inelastic due to fixed capacity, but more elastic over time as capacity expands. Supply is more elastic for industries that are small demanders of inputs. 3. The geographic scope of the market determines

Author

Yani Rahma

Language

EN