What Will Be the Shape of the Supply Curve and the Elasticity

question 18

Essay

What will be the shape of the supply curve and the elasticity of supply of a good,if the average cost of production increases with an increase in output? If after a point in time,the per-unit cost of production becomes constant how will the shape of the supply curve and the elasticity change?

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Definitions:

B2B

Business-to-Business, describing transactions or relationships between two companies, as opposed to between a company and individual consumers.

B2C

Business to Consumer, a sales model in which businesses sell products or services directly to consumers.

C2C

Consumer to Consumer, a business model that facilitates transactions between individuals, typically through an online platform.

G2C

Government to Citizen, a model of e-government where government services and information are directly available to citizens through electronic means.