Quotulatiousness

April 30, 2015

Elasticity of Supply

Filed under: Economics — Tags: , — Nicholas @ 04:00

Published on 27 Jan 2015

When is a supply curve considered elastic? What are determinants of elasticity of supply? Let’s compare Picasso paintings and toothpicks. Which has an elastic or inelastic supply? For which good could you increase production at a low cost? We also go over how to calculate the elasticity of supply, including using the midpoint formula.

Related posts:

  1. Supply and Demand Terminology
  2. Elasticity of Demand
  3. Calculating the Elasticity of Demand
  4. The Supply Curve
  5. A Deeper Look at the Supply Curve

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