What does it imply if the supply curve of a product is price elastic?

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The quantity supplied responds significantly to price changes of the productThe quantity demanded remains unaffected by price fluctuations of the productThe quantity demanded varies greatly with changes in the product's priceThe quantity supplied is motivated by price alterations of the productNone of the above

Explanation

If the supply curve is price elastic, it means that the amount of the good supplied changes considerably when its price changes. This sensitivity indicates that producers adjust their supply levels in response to price variations.