In _______ the supply is inelastic.
Short Period
Long Period
Initial Stage
Final Stage
When supply curve is horizontal Es =
Zero
1
∞
Es > 1
Slope of supply curve is given by the formula
If 10% increase in the price of scooters increases supply of scooter by 20% the supply of scooters will be
Perfectly Elastic
Elastic (more than unit)
Inelastic
Perfectly Inelastic