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Elasticity Of A Football Obstacle

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First, it is important to understand that the price of elasticity of supply is the quantitative measurement of how many sellers are ready and able to sell in regards to changes in price. As in the equation of demand, when the supply elastic measures with the response that is greater than 1, this is classified as elastic. However, anything that has a response that is less than 1 is considered inelastic. In other cases, there is a perfectly elastic supply where the price will not sway the quantity in any way. Also there is perfectly inelastic supply, in which the price will not be modified. So consider the example of the short-run elasticity of a football arena, the supply would be classified as perfectly elastic supply. Unfortunately,

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