Elasticity of supply is the responsiveness of the quantity supplied to a change in price. There are a few factors that would affect the elasticity of supply of a Wii. Firstly, there are shortages of the Wii as it is. As such, an increase in price may result in a proportionally less rise in the quantity supplied, as not many are available anyway. This would result in an inelastic supply curve for the Wii.
The demand curve would be elastic as it is a relatively expensive item, so the price is important as it represents a higher proportion of your income. You could expect to see a proportionally greater rise in the quantity demanded to a fall in price (eg. a 10% fall in price may result in a 20% rise in the quantity demanded). There are other factors, but expensive items usually have an elastic demand curve.
It may be useful to think about elasticity of supply from the perspective of the business owner. If the price increases, the business will make more profit from that item. As a business will always attempt to maximise profit, they will dedicate more resources to this product. Here you need to make a judgement as to how responsive this change in resources will be. There are factors such as storability, mobility and the availability of spare capacity. I hope that helps...
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