The supply curve for a good will be more elastic if: spending on the good accounts for a large share of a consumer's income. there is very little time for producers to respond to a price change. production inputs are readily available at a relatively low cost. the good is a luxury item.
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Business, 22.06.2019 12:00
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The supply curve for a good will be more elastic if: spending on the good accounts for a large share...
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