The price elasticity of supply measures how Multiple Choice easily labor and capital can be substituted for one another in the production process. responsive the quantity supplied of X is to changes in

The price elasticity of supply measures how Multiple Choice easily labor and capital can be substituted for one another in the production process. responsive the quantity supplied of X is to changes in the price of X. responsive the quantity supplied of Y is to changes in the price of X. responsive quantity supplied is to a change in incomes.

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