0 quantity unit elastic supply price s1 elasticity of

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Unformatted text preview: Price Elasticity of supply = S3 Suppliers will offer ANY quantity at this price 0 Quantity Factors That Affect Supply Elasticity Resource substitution Time frame Momentary- none of the required resources can be varied short run - at least one of the required resources can be varied long run - all of the required resources can be varied...
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