A key determinant of the price elasticity pf supply is the availability of alternative products. The more choices consumers have, the more elasticity the price must have.
number of sellers
supply elasticity
its demand , supply
We have to study the elasticity of demand and supply so that we can know what we want to know.
The point elasticity of supply is a measure of the rate of response of quantity demand due to a price change. The higher the elasticity, the more sensitive the sellers are to these changes.
number of sellers
supply elasticity
Expectations of the future price
its demand , supply
We have to study the elasticity of demand and supply so that we can know what we want to know.
A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.
income elasticity can be applied in the intersection of market demand and supply. when there is income inequality people with less income get to buy less goods than they would have wanted this affects the suppliers who will have to reduce their goods to be supplied.
the age of the battery
zero
The point elasticity of supply is a measure of the rate of response of quantity demand due to a price change. The higher the elasticity, the more sensitive the sellers are to these changes.
Demand from consumers.
Demand is the sole active determinant of land rent because the supply is fixed.