distinguish btwn1) elastic and inelastic supply 2)perfectly elastic supply and perfectly inlastic supply

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Solution

Elastic supply Inelastic Supply

An increase in price which causes a increase in percent(%) of supply is called Elastic Supply. An increase in price cause a smaller percent(%) increase in supply , is called Inelastic Supply.

If the increase in supply is easy for the firm doing production the it will be Elastic. If it is difficult to produce the capacity of the firm to produce then the supply becomes Inelastic.

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Elastic supply	Inelastic Supply
An increase in price which causes a increase in percent(%) of supply is called Elastic Supply.	An increase in price cause a smaller percent(%) increase in supply , is called Inelastic Supply.
If the increase in supply is easy for the firm doing production the it will be Elastic.	If it is difficult to produce the capacity of the firm to produce then the supply becomes Inelastic.