Assignment Help - homework help

  Price Elasticity of Supply Homework Help

Price Elasticity of Supply

Definition: Price elasticity of the supply measures the degree of the responsiveness of quantity supplied to the change in price.

 

            116_price elasticity of supply.png

Types of Elasticity are as follows

a)      Perfectly Inelastic Supply (Es = 0)

Regardless of the cost level, the producer will provide the same quantity and therefore it can be shown by the vertical straight line.

1396_price elasticity of supply1.png

b)      Perfectly Elastic SS (Es = ¥)

An infinite amount will be offered for the sale at a specific cost and hence it can be shown as the horizontal straight line.

 

c)      Relatively Elastic SS (1 < Es < ¥)

This is the situation whereby a change in cost leads to a more than proportionate change in the quantity supplied and it can be shown by a flat curve passing all the way through the vertical/price axis.

2364_price elasticity of supply2.png

d)     Relatively Inelastic SS (0 < Es < 1)

This is the situation whereby any alteration in price leads to the less than proportionate change in the quantity supplied and it can be shown by the steep curve passing through horizontal (Qty) axis.

e)      Unitary Elastic SS (Es = 1)

In this particular situation, a change in cost will lead to proportionate which is same percentage change in the quantity supplied and therefore it can be shown by any straight line which is passing through the origin.

2478_price elasticity of supply3.png                  

 

Email based price elasticity of supply homework help  - price elasticity of supply assignment help at TutorsGlobe

Are you searching economics tutor for help with Price Elasticity of Supply questions?  Price Elasticity of Supply topic is not easier to learn without external help?  We at www.tutorsglobe.com offer finest service of economics homework help and economics homework help. Live tutors are available for 24x7 hours helping students in their Price Elasticity of Supply related problems. We provide step by step Price Elasticity of Supply question's answers with 100% plagiarism free content. We prepare quality content and notes for Price Elasticity of Supply topic under economics theory and study material. These are avail for subscribed users and they can get advantages anytime.

Why TutorsGlobe for homework help

  • Higher degree holder and experienced tutors network
  • Punctuality and responsibility of work
  • Quality solution with 100% plagiarism free answers
  • Time on Delivery
  • Privacy of information and details
  • Excellence in solving accounting questions in excels and word format.
  • Best tutoring assistance 24x7 hours
Home | Company Overview | Services | Discover Q&A | Sitemap | Contact Us | T & C | Refund Policy | Copyright Policy | Blog | Q&A | Directory

©TutorsGlobe All rights reserved 2022-2023.