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प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
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उत्तर
If the cost of production increases, then there is an adverse impact on supply. If the cost of production increases, then the supply does not change with the change in price and the supply of such a commodity will be perfectly inelastic.
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संबंधित प्रश्न
Define a relatively elastic supply.
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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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.
Give the meaning of perfectly inelastic supply.
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