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From course:

Economics A Level (DONEEEEEEE)

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Question:

What other Factors can Influence the PES?

Author: eric_galvao



Answer:

-When Unemployment is around, Supply becomes more Elastic as it becomes Easier to Attract Workers -Perishable Goods [Plants & Flowers] have Inelastic Supply as they can’t be Stored for Long -High Stock Levels Firms have Price Elastic as Easier to Expand Supply -Industries with more Mobile Factors of Production can Expand Production easier. Not held back by Time as much


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