supply elasticity

• Elastic


  Quantity supplied responds substantially to changes in price
• Inelastic


  Quantity supplied respond only slightly to changes in price
• Unitary


  Quantity supplied respond equally to a change in price
• Perfectly Elastic


  Supply curve is vertical regardless of the price, the quantity supply stays the same
• Perfectly Inelastic


  Price elasticity of supply approaches infinity and the supply curve becomes horizontal