WAEC Economics 2017 Objective — Question 12
Question 12 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.
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Price elasticity of supply can be influenced by the following factors except
- A. A. time period
- B. B. cost of production
- C. C. size of consumers' incomeCorrect
- D. D. nature of the product
Explanation
Consumers' income determines demand, not supply.
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