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प्रश्न
Define or explain the following concept:
Elasticity of Supply
Explain Elasticity of supply.
परिभाषा
स्पष्ट कीजिए
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उत्तर
Elasticity of supply, or price elasticity of supply, measures the responsiveness of quantity supplied of a commodity to the change in its price. It can be calculated as:
`"Es" = "Percentage Change in Quantity Supplied"/"Percentage Change in Price"`
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