Percentage method of measuring elasticity of supply and Geometric method of measuring elasticity of supply.



Percentage method of measuring elasticity of demand
Geometric method of measuring elasticity of demand.

Meaning

In the percentage method, the elasticity of supply is measured by dividing the percentage change in the quantity supplied by the percentage change in price.
In the geometric method, the elasticity of supply is measured at any given point on a linear as well as non – linear supply curve.
Formula

Es= (Percentage change in quantity supply) ÷ (Percentage change in the price)
Es = (Intercepts from a given point on X – axis) ÷ (Quantity supplied at a given price)