The graph shows the price of green tea compared to the amount supplied by producers.

What does this graph suggest about green tea? Check all that apply.

1.Green tea is elastic in terms of supply.
2.Green tea is inelastic in terms of supply.
3.green tea is neither elastic nor inelastic
4. The supply of green tea changes sharply with the price
5. The supply of green tea does not changes with the price pls help

The elasticity of a product's supply measures the volatility in the number of products supplied by producers prior to changes in key elements of production.

To know the answer we first need to go through the concept of price elasticity.

What is price elasticity and how to calculate it?

The price elasticity of a product's supply is determined as the quotient of differences in the quantity given to the market by producers and variances in the market price of that commodity.

Green tea has a price elasticity of 67 percent in this situation. The calculation is carried out as follows:

E (%) = (S2-S1) / (P2-P1) = (5-3) / (7-4) = 2/3 = 67%

Thus option 2 is correct Because this value is smaller than one, green tea is said to be inelastic in terms of supply in relation to market price.

For more information about price elasticity refer to the link:

https://brainly.com/question/13691796