This document defines elasticity of supply as the responsiveness of the quantity supplied of a good to a change in its price. It provides a formula for calculating elasticity of supply and describes different types of supply elasticity, including perfect inelastic supply where quantity supplied does not change with price changes, relatively less-elastic supply where supply changes less than proportionately to price changes, relatively greater elastic supply where supply changes substantially to small price changes, unit elastic supply where supply changes exactly proportionately to price changes, and perfect elastic supply where supply is infinite at a given price point.

1. -:ELASTICITY OF SUPPLY:- PRESENTED BY- MANISHA MEDHE. ROLL NO- 25

2. MEANING OF ELASTICITY OF SUPPLY :- IT IS DEFINED AS THE RESPONSIVENESS OF THE QUANTITY SUPPLIED OF A GOOD TO A CHANGE IN ITS PRICE. ELASTICITY OF SUPPLY = % CHANGE IN QUANTITY SUPPLIE D ------------------------------------------------ % CHANGE IN PRICE

3. TYPES OF SUPPLY ELASTICITY:- PERFECT INELASTIC SUPPLY :- If as a result of a change in price, the quantity supplied of a good remains unchanged, we say that the elasticity of supply is zero. RELATIVELY LESS-ELASTIC SUPPLY :-If as a result of a change in the price of a good its supply changes less than proportionately, we say that elasticity of supply is less than one.

4. Continue- RELATIVELY GREATER ELASTIC SUPPLY :- If elasticity of supply is graeter than one – when the quantity supplied of a good is changes substaintially in response to small change in price of the good. UNIT ELASTIC SUPPLY :- If the relative change in the quantity supplied is exactly equal to the relative change in price, the supply is said to be unitary elastic.

5. PERFECT ELASTIC SUPPLY :- the supply elasticity is infinite when nothing is supplied at a lower price but a small increase in price causes supply to rise from zero to an indefinitely large amount indicating that producers will supply any quantity demanded at that price. ----------------------------------------------------------------------

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