# Elasticity of supply

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##### Intros

###### Lessons

**Elasticity of Supply Overview:**__Elasticity of Supply__- Ratio of change in quantities supplied and change in price
- Formula for Elasticity of Supply

__Types of Supply Curve__- Perfectly Inelastic
- Unit Elastic
- Perfectly Elastic

__Factors which Influences Elasticity of Supply__- Resource Substitution
- Time Period for Supply

##### Examples

###### Lessons

**Understanding Supply Elasticity of Supply**

Suppose the percentage change in quantity supplied is 0% when the price increases. What is the elasticity of supply? Draw a supply curve that accurately represents this elasticity of supply.- Using the information in the table, find the elasticity of supply when the price rises from $50 to $60. Is it inelastic, or elastic? Does the supply curve intersect the origin?

Price (dollars per bar chocolate bar)

Quantity supplied (Chocolate Bars)

30

20

40

25

50

30

60

35

70

40

- Which of the following supply curves accurately represents monetary supply for fruits and vegetables? Explain.
- Which of the following supply curves accurately represents long-run supply for fruits and vegetables? Explain.