Would the short-run elasticity of supply for a football stadium be elastic, inelastic, perfectly elastic, or perfectly inelastic? Explain

The elasticity of supply for a football stadium is perfectly inelastic in the short run. This is because, in the short run, the number of seats in a stadium is fixed. That is to say, even if the price changes, the supply of seats cannot be altered. A perfectly inelastic supply is exemplified as a vertical line.

In the long-run, the situation is similar; however, the stadium can also be remodeled, and its capacity will be expanded. Therefore, the number of seats would be increased. Nevertheless, the elasticity will continue to be relatively inelastic because it is a very costly investment. Consequently, in the long-run, the supply will be perfectly inelastic again.