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What are different types of supply elasticity ?

Answer»

Kinds of Elasticity of supply – The kinds of elasticity of supply can be divided into five categories. 

I. Perfectly Elastic supply (es = x ) 

II. Greater than unit Elastic supply (es > 1) 

III. Unitary Elastic supply (es = 1) 

IV. Less than unitary elastic supply (Inelastic supply)(es < 1).

V. Perfectly Inelastic supply (es = 0).



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