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प्रश्न
Give the meaning of perfectly elastic supply.
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उत्तर
When the supply of a commodity changes without change in its price, the supply of a commodity changes without change in its price, the supply of the commodity will be called perfectly elastic. The value of price elasticity of supply in this case is infinity, es = α. It is purely an imaginary concept and can only be explained with the help of an imaginary supply schedule as given below.
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संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
Draw a perfectly elastic supply curve.
What is the formula for percentage method of calculating price elasticity of supply?
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
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 ______.
Pick the option which does not belong to the group.
Assertion (A): In case of perfectly inelastic supply, supply curve is a vertical straight line supply curve.
Reason (R): Supply does not change with change in price in case of Es = 0.
Define elasticity of supply.
Which of the following measures of price elasticity shows inelastic supply?
The coefficient of elasticity of a commodity is 0.4. What percentage change in supply will take place if its price rises 20%?
Draw and briefly explain a perfectly inelastic supply curve.
How is elasticity of supply measured according to the percentage method?
Draw the supply curve showing price elasticity of supply equal to one.
Draw the supply curve showing price elasticity of supply less than one.
Indicate the degree of elasticity on the supply curve given below:
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Draw a straight line supply curve of the following situation.
More than unitary elastic
