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Technology & Elasticity of Supply
The elasticity of supply will be inelastic, if the production technique of a commodity is complex and, if the technique is simple, then elasticity will not be rigid.
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Supply - Supply vs Stock
Supply of a commodity is the part of the stock which sellers are ready to sell in the market.
Cost - Total Cost
Total Cost is the sum total of different expenses incurred by the producer in producing a particular quantity of the commodity .
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