59,177 views
14 votes
14 votes
the elasticity of demand for a product can be determined by analyzing the change in total revenue as a result of a change in price. Explain why this method can't be used to determine the elasticity of supply for a product

User Nightingale
by
2.8k points

1 Answer

18 votes
18 votes

Answer:

Elasticity of supply for a product is based on two factors: the change in quantity of a product and the change in price of a product

Step-by-step explanation:

There is a formula that I saw

I hope this helps, have a blessed day. :D

User Abouasy
by
3.2k points