is soap elastic or inelastic supply
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
A firm making underwear will need a supply of elastic.
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%.
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
is soap elastic or inelastic supply
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
A firm making underwear will need a supply of elastic.
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%.
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
It could be perfectly elastic if the population demanded whatever can be supplied of coal at one price and no other. Its elasticity would have to be infinite.
The definition of perfectly elastic supply is a supply that can change along with the demand. This means if paper for example is not demanded in large quantities and then all of the sudden is there will be enough paper to supply the demand.
unitary elastic products are those with a supply and demand slope=1.
Supply is inelastic and demand is elastic for land.
The world supply curve is considered perfectly elastic.
Scientists believe the world's coal supply will last for another 200 to 250 years.
When supply and demand are perfectly elastic/inelastic