Supply Elasticity?

A leftward shift in the supply curve of Product X will increase the equilibrium price to a greater extent

Answer:
it is inelastic. meaning the value is less than 1.0. this is because the proportionate change in price is larger than the proportionate change in quantity supplied.

this supply graph is usually for agricultural products. It is more vertical than horizontal

it looks like the perfectly inelastic graph tilted to the right a bit
A leftward shift in the supply curve of Product X will increase the equilibrium price to a greater extent.when the elasticity of supply is inelastic (more vertical then horizontal).

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