Question #a1f36

1 Answer
Nallasivam V
Oct 12, 2015

Refer Explanation section

Explanation:

Price Elasticity of supply may change over time.

You know, it measures the responsiveness of quantity supplied to a given change in price.

An improvement in technique of production.
Decrease in the prices of raw materials.
An increase in labour productivity.
Operation of Increasing returns in production

These are all some of the causes for change in price elasticity of supply.

Related questions
Impact of this question
786 views around the world
You can reuse this answer
Creative Commons License