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WAEC Economics 2025 Question 29

Question 29

Elasticity

Which of the following factors is not a determinant of price elasticity of supply?

  1. A.Cost of production
  2. B.Availability of labour
  3. C.Government policy
  4. D.Consumers' income level
Show the answer and explanation

Answer: D (Consumers' income level)

Explanation

Consumers' income affects demand, not supply elasticity.