Economics (AS & A Level) · May / June 2022 · Paper 14 · Question 7
9708Price elasticity of supply
What is likely to decrease the price elasticity of supply (PES) of a product?
- Aan increase in advertising the product
- Ban increase in the firm's ability to substitute capital for labour
- Can increase in the time during which the product can be stored
- Dan increase in the time required to produce the product
As printed in the paper
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Correct answer: D. an increase in the time required to produce the product
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