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Question
Explain the various types of price elasticity of supply.
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Solution
various types of price elasticity of supply are :
- Perfectly Inelastic Supply. A service or commodity has a perfectly inelastic supply if a given quantity of it can be supplied whatever might be the price.
- Relatively Less-Elastic Supply.
- Relatively Greater-Elastic Supply.
- Unitary Elastic.
- Perfectly Elastic supply.
various types of price elasticity of supply are :
- Perfectly Inelastic Supply. A service or commodity has a perfectly inelastic supply if a given quantity of it can be supplied whatever might be the price.
- Relatively Less-Elastic Supply.
- Relatively Greater-Elastic Supply.
- Unitary Elastic.
- Perfectly Elastic supply.
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