If factors of production are relatively immobile,then the price elasticity of supply will tend to be

Name: If factors of production are relatively immobile,then the price elasticity of supply will tend to be
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

When factors of production are relatively immobile, it becomes difficult to increase the supply of goods and services. This means that the price elasticity of supply tends to be smaller, as even a small increase in price may not result in a corresponding increase in supply.

If Factors of Production Are Relatively Immobile,then the Price Elasticity