The supply curve S1, S2, S3, S4 shows different kind of price of elasticity of supply which is as follows : S1 – OS1 supply curve shows Unitary Elastic Supply because when the change in the amount supplied is exact proportion to the change in price. Symbolically it represented as, Es = 1.
S2 – OS2 supply curve shows More Elastic Supply because when a small change in price brings about a large change in quantity supplied. Symbolically it represented as Es > 1.
S3 – OS3 supply curve shows Perfectly Inelastic Supply because when a change in the price causes no change in supply. Symbolically it represented as, Es = 0.
S4 – OS4 supply curve shows Less Elastic Supply because when a change in price brings about a small change in supply. Symbolically it represented as , Es < 1.
