Question on: JAMB Economics - 2002

The elasticity of supply for perishable goods is inelastic. This is because:

• Perishable goods spoil quickly. Producers of these goods cannot store them for long periods.
• Limited Storage: Since storage is limited, producers cannot significantly adjust the quantity supplied in response to price changes.
• Inelastic Supply: This means that the quantity supplied does not change much, even if the price changes significantly.