Graphical Representation of Price Elasticity of Supply and Five Elasticity Alternatives of Supply Curve

1. Perfectly Elastic: The coefficient of elasticity for this

alternative is E = ∞. It's a perfectly elastic supply
curve, which is horizontal and intersects the vertical
price axis.

2. Relatively Elastic: The coefficient of elasticity for

this alternative is in the range of 1 < E < ∞.It's elastic
supply curve, which is flat but not horizontal and
intersects the price axis.

3. Unit Elastic: The coefficient of elasticity for "Unit

Elastic" is in the range of E = 1. It reveals a unit elastic
supply curve, which is a straight line extending from
the origin. Means, If the coefficient is exactly one, the
good is said to be unitary elastic. It can be said as if
the supply curve is a straight line passing through the
origin, then the price elasticity of supply will be
equal to unity.

4. Relatively Inelastic: The coefficient of elasticity for

this alternative is in the range of 0 < E < 1. It's a
relatively inelastic supply curve, which is steep but
not vertical and intersects the quantity axis.

5. Perfectly Inelastic: The coefficient of elasticity for this alternative is E = 0. It's a perfectly inelastic supply
curve, which is vertical and intersects the horizontal quantity axis.