Here is a terrific short video that takes us into a baked bean factory capable of producing over two million cans a day through a two hour production process. The beans are cooked in the tin! This is a stunning example of capital-intensive production leading to constant cost supply i.e. a perfectly elastic supply during routine manufacturing.
Key summary notes on price elasticity of supply
The formula for price elasticity of supply is:
% change in quantity supplied divided by the % change in price
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