USA, New York – Wikipedia defines Elasticity of Supply as a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price or cost. The Law of supply states that other things held constant, a fall in price of commodity decreases the supply of the same and vice-versa. Thus, there is a positive relationship between price of a commodity and quantity supplied. But, to what extent does this positive relationship go? This study is what is important while studying Elasticity of Supply. Elasticity of supply is a basic concept of economics that needs to be well understood by every economics student. However, the academic system does not ensure any guarantee of strong concepts in this fast paced world of education. So where do students go to brush up their concepts?Transtutors, a leading online platform connecting students across the globe with over 2000 experienced experts from the world, showed the light at the end of the tunnel to students who almost felt hopeless because of the lack of personal attention to students in the educational system. Commencing the business in 2007 as an assignment and homework help website, Transtutors extended its reach to students in need of personal one on one tutoring. With immense success in solving assignment problems, Transtutors had the confidence to be able to fulfil tutoring needs of students. The striking and exciting features of its services have gained colossal popularity among students which is proved by the massive figure of 988,080 questions asked just on Elasticity of Supply. The experts at Transtutors are available 24x7 to answer students’ questions wherein the students propose their own bid on how much they are ready to pay for the getting the question answered by an expert.
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