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This is " Elasticity of Supply " from our Principles of Economics: Microeconomics course. When is a supply curve considered elastic? What are determinants of

This is "Elasticity of Supply" from our Principles of Economics: Microeconomics course.

When is a supply curve considered elastic? What are determinants of elasticity of supply? Let's compare Picasso paintings and toothpicks. Which has an elastic or inelastic supply? For which good could you increase production at a low cost? We also go over how to calculate the elasticity of supply, including using the midpoint formula.

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