Determinants of Price Elasticity of Supply

The video tutorial explains the concept of price elasticity of supply, focusing on how different factors affect it. It covers four main determinants: spare capacity, time of production process, factor substitutability, and barriers to entry. Each determinant is discussed with examples to illustrate how they influence the elasticity of supply. The tutorial concludes by emphasizing that a combination of these determinants typically affects the price elasticity of supply for a product.

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