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State the importance of Elasticity of Supply. - Economics

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Question

State the importance of Elasticity of Supply.

Very Short Answer
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Solution

The elasticity of supply is important as it affects the price, quasi-rent and is better for economic planning.

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Chapter 6: Supply and Law of Supply - TEST QUESTIONS [Page 6.18]

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R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC
Chapter 6 Supply and Law of Supply
TEST QUESTIONS | Q A. 16. | Page 6.18
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