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प्रश्न
- Price elasticity of supply of a good is 0.8, its supply is said to be inelastic.
- If the quantity supplied of a commodity remain the same whatever its price supply is said to perfectly inelastic.
विकल्प
Both (i) and (ii) are true
Both (i) and (ii) are false
Statement (i) is false and statement (ii) is true
Statement (i) is true and statement (ii) is false
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उत्तर
Both (i) and (ii) are true
Explanation:
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Statement (i) is true: If the price elasticity of the supply of a good is 0.8, it means that the supply is inelastic because the percentage change in quantity supplied is less than the percentage change in price.
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Statement (ii) is true: If the quantity supplied of a commodity remains the same regardless of its price, the supply is said to be perfectly inelastic. This is represented by a vertical supply curve, indicating that price changes do not affect the quantity supplied.
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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.
What is the degree of elasticity of supply in the diagram?
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I:
| Column I | Column II |
| A. Perfectly Inelastic | (i) Es > 1 |
| B. Perfectly Elastic | (ii) Es < 1 |
| C. Inelastic | (iii) Es = 0 |
| D. Highly Elastic | (iv) Es = infinity |
Choose the correct alternative:
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.
When is the supply of a commodity is called elastic?
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 ______.
Cotton and cotton seeds are examples of ______ supply.
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.
Explain any four determinants of elasticity of supply.
Draw the supply curve showing price elasticity of supply greater than one.
Indicate the degree of elasticity on the supply curve given below:
Why is the supply of eggs inelastic?
Draw a straight line supply curve of the following situation.
More than unitary elastic
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
