The elasticity of technical substitution is measured by. the slope of the isoquant the change in the slope of the isoquant the ratio of factor inputs none of the above

Generally, we calculate elasticity as the

Which of the following best describes the relationship between the elasticity of demand and the availability of substitutes? A. The elasticity of demand will increase as the availability of substitutes decreases. B. The elasticity of demand will decrease as the availability of substitutes remains constant. C. The elasticity of demand will increase as the availability of substitutes increases. D. The elasticity of demand will remain constant as the availability of substitutes decrease.

Which of the following factors does NOT affect the elasticity of demand?

The price elasticity of supply is defined as:(a) % change in quantity supplied divided by the % change in price;(b) % change in price divided by the % change in quantity supplied;(c) % change in quantity supplied divided by the % change in income;(d) % change in income divided by the % change in quantity supplied

Explain significance of elasticity of demand.