percentage change in quantity supplied of a good divided by percentage change in price. If it is less than 1, equal to 1 and greater than 1, elasticity is respectively inelastic, unit elastic and elastic.
Economic Education for All
Economic Education for All
percentage change in quantity supplied of a good divided by percentage change in price. If it is less than 1, equal to 1 and greater than 1, elasticity is respectively inelastic, unit elastic and elastic.