Respuesta :
The given statement is true. The high level of supply will lead to additional capital for the further production of the goods.
Further Explanation:
Elasticity of supply:
The elasticity of supply refers to the measurement of the change in quantity supplied due to the change in the price of the goods. It is also known as the price elasticity of supply. The increase in the demand for a product will increase the price and supply. Therefore, the speed of increase in the supply is known as the elasticity of supply.
Effect of the high level of quantity supplied:
The high level of the quantity provided can be the result of the high level of demand for the product. The increase in the demand for the product will increase the supply and price of the goods. It will result in the elastic supply. The increase in the supply will enforce the manufacturer to engage additional resources to produce goods for the demand of the goods.
Thus, the given statement is true. The high level of supply will lead to additional capital for the further production of the goods.
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Answer Details:
Grade: Middle school
Chapter: Elasticity of supply
Subject: Economics
Keywords: True or false, high, levels, quantity, supplied, firms, reached, maximum, capacity, supply, becomes, elastic, firms, invest, additional, capital, order, further, increase, production.
The statement that for high levels of quantity supplied where firms have reached near maximum capacity, supply becomes more elastic is True.
This is because firms may need to invest in additional capital in order to further increase production.
What is production?
Production can be regarded as the process of utilization of material inputs as well aa immaterial input for consumption.
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