The diagram shows the supply curve of a firm.
Which statement about the price elasticity of supply (PES) along this curve is correct?
1 )
PES is greater than unity at all points along the supply curve.
2 )
PES is the same at all points along the supply curve.
3 )
PES is elastic when the price is low and becomes more inelastic when the price rises.
PES rises when the supply rises.
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