Distinguish between the following:Relatively Elastic Supply and Relati – InterviewSolution

1.

Distinguish between the following:Relatively Elastic Supply and Relatively Inelastic Supply

Answer»

Relatively Elastic Supply	Relatively Inelastic Supply
In this case, change in price leads to a proportionately large change in the quantity supplied.	In this case, change in price leads to a proportionately minor change in the quantity supplied.
It represents a flatter supply curve.	It represents a steeper supply curve.
Here, Ed> 1	Here, Ed< 1

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