A perfectly inelastic supply curve, with elasticity value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand.
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Elasticity of Supply - Revisionguru and, there are special cases of elasticity of supply.
If elasticity is equal to one then the good will have unitary elasticity; meaning a percentage change in price will lead to an equal percentage change in the quantity supplied.
<span>A perfectly inelastic supply curve, with a value of zero, means that the quantity supplied doesn’t change irrespective of the level of demand.
Elasticity of supply is equal to infinity when it is perfectly elastic; any decrease in price will lead to the quantity supplied falling to zero.
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