Provide an example of an elastic supplier and an inelastic
supplier.

Example for Elastic supplier: Movie ticket supplier.

Example for Inelastic supplier: Milk man.

Explanation:

In which product, demand depends upon the price of the product is called elastic product and in which product, demand does not depend on the price known as inelastic product. For e.g. products of daily necessities like vegetable, milk are example of inelastic products and movie ticket, car are example of elastic demand.

If the price of daily necessary products increase the demand will not much affected by it because one can't sustain his life without it. But if the demand of elastic product increase it's demand and supply will highly get affected because it is not an essential product.

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