Answer:
This suggests that in the long run a consumer becomes knowledgeable its of alternatives therefore a supplier is enabled to match its productions levels, as a variable voiding short-term constraints, to fling price elasticity leading to a higher demand elasticity, calculated as the percent change in the quantity demanded divided by a percent change in another economic variable as the price.
Explanation:
Price elasticity measures the supply or demand of a product changes referred to a proposed change in price.
Elasticity of supply is measured as the ratio of proportionate change in the quantity supplied to the proportionate change in price.
