There are two goods A and B. In which of the following cases will good A have the more price elastic supply?
◦ A higher proportion of national income is spent on A than on B.
◦ The cost of producing extra units increases more rapidly in the case of A than in the case of B.
◦ Consumers find it easier to find alternatives to A than to B.
◦ If it is less costly to shift from producing A to another product than it is to shift from producing B to another product.