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प्रश्न
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
विकल्प
Inelastic
Elastic
Perfectly elastic
Perfectly inelastic
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उत्तर
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be inelastic.
Explanation:
Elasticity of supply is calculated as the percentage change in quantity supplied divided by the percentage change in price.
Elasticity of Supply (Es) = `("Percentage change in quantity supplied")/("Percentage change in price")`
Es = `(5%)/(10%)` = 0.5
Since the elasticity of supply is less than 1 (Es = 0.5), the supply is considered inelastic.
संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
What is the formula for percentage method of calculating price elasticity of supply?
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
Identify the elasticity of supply for the following with proper reasoning:
Nature of the entrepreneurs.
What is the degree of elasticity of supply in the diagram?
- Price elasticity of supply of a good is 0.8, its supply is said to be inelastic.
- If the quantity supplied of a commodity remain the same whatever its price supply is said to perfectly inelastic.
The given diagram is a case of ______ supply.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
If the price elsaticity of supply is 1 and the percentage change in price is 10, then the percentage change in quatity supplied should be ______.
Elasticity of supply is measured by:
Pick the option which does not belong to the group.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Cotton and cotton seeds are examples of ______ supply.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
Why does the measure of price elasticity of supply of a good carry plus sign?
Why is the supply of eggs inelastic?
Define a relatively inelastic supply.
Draw relatively inelastic supply.
Draw relatively elastic supply.
