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1. perfect elasticity
This is the type of supply that the change in price does not affect the supply.Such supply include that of medicine in a chemist; a change in price does not affect the quantity. The graph is a straight line.
2. Inelastic supply
This is the type of supply that a change in price results quantity supplied to change in a less proportion. for example the supply of less perishable food like tomatoes. the supply curve is steeply sloped.
3. Unit elasticity of supply
The supply is said to be unit elastic if a change in price results the quantity supplied to change in the same quantity.for example the market of dry food stuff like dry maize.Increase in price result to quantity supply in the same proportion. the graph is a straight from the origin.
4.Elastic supply
This is the type of supply in which change in price results to change in quantity in supplied with a greater proportion. For example electronic products; if price of a product increases the supply increases and the vice verse.
5. perfectly elastic supply
This is type of supply in which the price is fixed in all levels of demand.This is in the case of government price control. The graph is horizontally straight.
Kstanley Stanley answered the question on February 14, 2019 at 17:09
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