What are the main determinants of Elasticity of Supply of a Commodity? Distinguish between Perfectly Elastic, Perfectly Inelastic, Unit Elastic, Inelastic and Elastic supply curves with the help of diagrams.

Elasticity of supply refers to the responsiveness of the quantity of a good or service supplied to changes in the price of the good or service. The elasticity of supply of a commodity is an important concept in economics, as it determines how the quantity of the commodity supplied will change in response to changes in its price. There are several determinants of the elasticity of supply of a commodity, including the following:

1. Time Horizon: The time horizon over which the supply of a commodity is analyzed is a key determinant of its elasticity of supply. In the short run, the supply of most goods and services is relatively inelastic, as firms may not have the capacity to quickly increase or decrease their production. However, in the long run, the supply of most goods and services is relatively elastic, as firms have more time to adjust their production to changes in the price of the good or service.

2. Availability of Inputs: The availability of inputs used to produce a commodity is another key determinant of its elasticity of supply. If the inputs required to produce a commodity are readily available, _________ _______ _________ ______ ______ ____ ________ ______.
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