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प्रश्न
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
विकल्प
Law of demand
Law of supply
Elasticity of demand
Elasticity of supply
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उत्तर
Elasticity of supply
Explanation:
The elasticity of supply is the term used to describe the ratio between the percentage change in the quantity supplied and the percentage change in price. It measures how responsive a good's supply is to price changes.
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संबंधित प्रश्न
Define a relatively elastic supply.
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
Identify the degree of elasticity of supply from the following graph:
What is the formula for percentage method of calculating price elasticity of supply?
Which of the following statements are true?
The cost of production will increase if
- The government gives subsidies
- The firm uses obsolete technology
- The price of diesel increases
Pick the option which does not belong to the group.
Define elasticity of supply.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
How is elasticity of supply measured according to the percentage method?
Give the meaning of perfectly inelastic supply.
Draw the supply curve showing price elasticity of supply equal to one.
Why does the measure of price elasticity of supply of a good carry plus sign?
What do you mean by elastic supply?
When is supply of a good unitary elastic?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
