Factors Affecting Elasticity of Supply are as follows
a) Length of Production Process
Goods which can be produced speedily like manufactured products will have elastic supply whilst commodity that needs longer period to of time produce like primary products will have inelastic supply.
b) Capacity Level
A firm which is not utilising all the resources will be able to adjust its supply in the respond to any price changes and therefore will have elastic supply.
c) Degree of Factor Mobility
Factors of production which can be simply transferred to the other places or uses will result in supply of its final product to be much more elastic.
d) Barriers to Entry of Firms
Any forms of the barriers or hurdles to entry (legal, natural or political) will prevent supply from adjusting to any cost changes and therefore will result in the supply being inelastic.
Email based factors affecting elasticity of supply homework help - assignment help at TutorsGlobe
Are you searching economics tutor for help with Factors Affecting Elasticity of Supply questions? Factors Affecting Elasticity of Supply topic is not easier to learn without external help? We at www.tutorsglobe.com offer finest service of economics homework help and economics homework help. Live tutors are available for 24x7 hours helping students in their Factors Affecting Elasticity of Supply related problems. We provide step by step Factors Affecting Elasticity of Supply question's answers with 100% plagiarism free content. We prepare quality content and notes for Factors Affecting Elasticity of Supply topic under economics theory and study material. These are avail for subscribed users and they can get advantages anytime.
Why TutorsGlobe for homework help
18,76,764
Questions Asked
21,311
Experts
9,67,568
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!