The price elasticity of supply of perishable goods is_________?
The correct answer is C. Inelastic
In case of perishable goods such as vegetables, fruits, and other eatables, thesupply would be inelastic.This is because the supply of perishable goods cannot be increased or decreased easily. As supply cannot be increased or decreased easily, therefore elasticity of supply is said to be relatively inelastic.
Previous question Next questionWhat is Exam without Practice? With our customizable CBT practice tests, you’ll be well-prepared and ready to excel in your examsStart Practicing Now