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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
Draw a perfectly inelastic supply curve.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Define a relatively elastic supply.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
What is the formula for percentage method of calculating price elasticity of supply?
If price elasticity of supply is greater than 1, then supply is said be elastic.
The given diagram is a case of ______ supply.
When the percentage change in the quantity supplied of a commodity is exactly equal to the percentage change in its price it is known as ______.
Draw a straight line supply showing elasticity greater than one.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
The price of a commodity rises from ₹ 20 to ₹ 40 Consequently, its supply increases from 100 units to 400 units. Calculate price elasticity of supply.
Draw the supply curve showing price elasticity of supply less than one.
Indicate the degree of elasticity on the supply curve given below:
Draw and explain the following degree of elasticity of supply.
Ep > 1
If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?
What is meant by inelastic supply?
Draw a straight line supply curve of the following situation.
More than unitary elastic
Draw relatively elastic supply.
