What will be the elasticity of supply if specialised factors of production are used?

inelastic

The correct answer is Option 2:

When specialized factors of production are used, the elasticity of supply is low (inelastic) because:

1️⃣ Limited adaptability → Specialized factors (e.g., highly skilled labor, unique machinery, or rare materials) cannot be easily shifted to produce other goods.

2️⃣ Slow production adjustment → If demand increases, firms cannot quickly increase output because specialized resources are not readily available.

3️⃣ Steeper supply curve → Since quantity supplied does not respond significantly to price changes, the supply curve is steeper, indicating inelastic supply.