The elasticity of supply of frozen pizzas is likely to be more elastic than the supply of fresh vegetables. Do you agree with this statement?

For this question, we need to talk about the price elasticity of supply of two things (1) frozen pizzas and (2) fresh vegetables. If supply is more price elastic, then that means that supply is more responsive to changes in price. If supply is more price inelastic, then that supply is less responsive to changes in price.For this question, we might argue that frozen pizzas are more elastic because we can store them in freezers and release them when demand increases. In contrast, fresh vegetables are less elastic because they take time to grow and cannot be stored for long periods of time, as they're perishable goods. However, we need a reasoned conclusion: we might argue that fresh vegetables and frozen pizzas actually have the same elasticity of supply if the frozen pizzas are not replaced when they are sold. We could even argue that fresh vegetables might be more elastic in the long run, because we can buy other factors of production (like tractors) to increase supply in the long run.

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Answered by Tutor562273 D. Economics tutor

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