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Question

Will the supply at a point on a positively sloped, straight line supply curve be unitary elastic, elastic or inelastic ?

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Solution

Es= 1, i.e., unitary elastic at any point on the supply curve if it touches the origin when extended.

Es > 1, i.e., elastic at any point on the supply curve if it touches the Y - axis when extended.

Es < 1, i.e., inelastic at any point on the supply curve if it touches the X- axis when extended.


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