Business, 25.02.2020 02:01 lovelyashjoy

Under which conditions is price elasticity of supply relatively elastic or relatively inelastic?
1. Firms are operating in the short run
2. Firms would have a hard time storing their goods
3. Firms have a large amount of excess capacity
4. Firms can easily relocate from one location to another

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Under which conditions is price elasticity of supply relatively elastic or relatively inelastic?

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