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Which would likely have less elastic supply, commercial property in downtown Toronto, or hot dogs in...

Which would likely have less elastic supply, commercial property in downtown Toronto, or hot dogs in downtown Toronto?   Why?

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Answer #1

Ans. Less Elastic - commerical property in downtown toronto

Explanation-

Commercial Property in downtown toronto will have less elastic of supply because as per elasticity of supply, if theres a price rise the supply rises aswell, in comparison to hot dogs , property will have less elasticity as it cannot provide the neccessary increase in supply proportionately to the price rise, because in comparison hot dogs can be sold more and more and it will be less in case of property because of limited property it can sell and the time which it takes to finalise the sale.

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