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14-02-2020
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The elasticity of supply measures how responsive:
the quantity supplied is to a change in price.
the quantity supplied is to a change in income.
the supply is to a change in income.
the quantity supplied is to a change in costs.

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ewomazinoade ewomazinoade

15-02-2020

Answer:

the quantity supplied is to a change in price.

Explanation:

Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price

Elasticity of supply = percentage change in quantity supplied/ percentage change in price

Supply is elastic if a small change in price has a greater effect on the quantity supplied.

Supply is inelastic if a small change in price has little or no effect on quantity supplied.

Supply is unit elastic if a small change in price has a proportional equal effect on quantity supplied.

I hope my answer helps you

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