Problem
In the box "Geometric Tricks for Estimating Price Elasticity," there are three statements about the elasticities of straight-line supply curves. One of those statements is that supply curves intersecting the quantity axis are inelastic. Can you prove that that is true by algebraic manipulation of the elasticity formula?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.