Kinds of Elasticity of supply – The kinds of elasticity of supply can be divided into five categories.
I. Perfectly Elastic supply (es = x )
II. Greater than unit Elastic supply (es > 1)
III. Unitary Elastic supply (es = 1)
IV. Less than unitary elastic supply (Inelastic supply)(es < 1).
V. Perfectly Inelastic supply (es = 0).
