I cannot answer this question.
supply elasticity
By doing the factors..
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
The elasticity of supply establishes a quantitative relationship between the supply of a commodity and it’s price. Hence, we can express the numeral change in supply with the change in the price of a commodity using the concept of elasticity. Note that elasticity can also be calculated with respect to the other determinants of supply. However, the major factor controlling the supply of a commodity is its price. Therefore, we generally talk about the price elasticity of supply. The price elasticity of supply is the ratio of the percentage change in the price to the percentage change in quantity supplied of a commodity. Es= [(Δq/q)×100] ÷ [(Δp/p)×100] = (Δq/q) ÷ (Δp/p) Δq= The change in quantity supplied q= The quantity supplied Δp= The change in price p= The price
What factors usually affect pricing?
supply elasticity
By doing the factors..
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
The elasticity of supply establishes a quantitative relationship between the supply of a commodity and it’s price. Hence, we can express the numeral change in supply with the change in the price of a commodity using the concept of elasticity. Note that elasticity can also be calculated with respect to the other determinants of supply. However, the major factor controlling the supply of a commodity is its price. Therefore, we generally talk about the price elasticity of supply. The price elasticity of supply is the ratio of the percentage change in the price to the percentage change in quantity supplied of a commodity. Es= [(Δq/q)×100] ÷ [(Δp/p)×100] = (Δq/q) ÷ (Δp/p) Δq= The change in quantity supplied q= The quantity supplied Δp= The change in price p= The price
A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.
What factors usually affect pricing?
If the cost of supply falls for each unit of supply (a shift of the supply curve right), the change in price depends on the price elasticity of demand: Price is unchanged when price elasticity of demand is infinite. Price falls when price elasticity of demand is less than infinite.
A key determinant of the price elasticity pf supply is the availability of alternative products. The more choices consumers have, the more elasticity the price must have.
Elasticity of supply refers to the responsiveness of guantity supplied of a commodity to changes in its own price. And the formulafor measuring elasticity of supply percentagechange in quantity supplied/ %change in price
The price elasticity of supply of Picasso paintings is zero, since no matter how high price rises, no more can ever be produced
There are four main factors that influence supply elasticity. Those factors are the ability to produce other goods; the ability to shut down and cease business; the ability to take advantage of alternative resources; and the amount of time it takes to respond to changes in price.
"What factors affect the pricing of Fast Moving Consumer Goods?"