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प्रश्न
Draw and briefly explain a perfectly inelastic supply curve.
Give the meaning of perfectly inelastic supply.
Draw and explain the following degree of elasticity of supply.
Ep = ∞
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उत्तर
If there is no change in quantity supplied with changes in the price of the product, then the supply of that commodity becomes perfectly inelastic (i.e., E5 = 0). The supply curve will be a vertical line. This refers to when only one quantity can be supplied at any given price. The shape of perfectly inelastic supply is shown below.
The figure clearly shows that quantity supplied is fixed at OQ, whatever the price (P, P1 or P2). At all points on such a straight line supply curve, price elasticity of supply will be zero. The supply of genuine antique furniture is perfectly inelastic. Its supply cannot be changed. Antique furniture sellers cannot increase or decrease the amount of postage furniture they produce. Likewise the supply of rare books, stamps, old coins etc. is of this type.
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संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
Identify the degree of elasticity of supply from the following graph:
Identify the elasticity of supply for the following with proper reasoning:
Nature of the entrepreneurs.
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.
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.
Cotton and cotton seeds are examples of ______ supply.
Draw and briefly explain a perfectly elastic supply curve.
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 less than one.
Indicate the degree of elasticity on the supply curve given below:
What is meant by elasticity of supply?
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 do you mean by elastic supply?
When is supply of a good unitary elastic?
Define a relatively inelastic supply.
