here the last sentence says that any straight line supply curve that cuts the y axis has elastic supply . considering this statement iyve made 2 supply curves both cutting y axis but in one of the curve the Es is <1 while in other Es is >1 despite the fact that both curve are cutting y aixs could someone please explain this .
Supply curve cutting the y-axis will always have elasticity greater than 1 that what’s the statement says
On the other hand and curve on x axis will have elasticity less than 1