The cost elasticity of supply is a useful instrument for measuring
ECONOMICS
JAMB 2012
The cost elasticity of supply is a useful instrument for measuring
- A. profit
- B. productivity
- C. national income
- D. price index
Correct Answer: B. productivity
Explanation
The price/cost elasticity of supply measures the degree to which a change in price would affect the quantity of goods the producer is willing to produce and supply
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