Elasticity of Supply

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=gguIcyQzSog

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. • Microeconomics Course: https://mru.io/t4w • Next video: https://mru.io/19z • Help us caption translate this video! http://amara.org/v/GCsZ/ • 00:00 What is the elasticity of supply? • 02:37 Four determinants of elasticity of supply • 02:57 1. Change in per-unit costs with increased production • 05:00 2. Time horizon • 06:24 3. Share of market for inputs • 08:33 4. Geographic scope • 10:05 Summary • 10:47 Calculating elasticity • 11:49 Midpoint formula

#############################

New on site