Speed Suppleness out-of Demand and you will Speed Flexibility out of Supply
Both request and provide curve tell you the partnership between rate additionally the number of equipment demanded otherwise provided. Rates flexibility is the ratio between your commission improvement in the latest wide variety demanded (Qd) or offered (Qs) in addition to associated per cent change in speed. The purchase price elasticity away from consult is the commission improvement in the fresh numbers needed a good or provider divided by fee improvement in the cost.