Relatively price elastic when supply decreases

Even though a drought decreases supply from S₁ to S₀, at each point along both of such supply curves, the supply of tanks of dehydrated water: (i) perfectly price elastic. (ii) relatively price elastic. (iii) unitarily price elastic. (iv) relatively price inelastic. (v) perfectly price inelastic.

289_Price Elasticity of Supply.png

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