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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
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Draw a perfectly elastic supply curve.
Identify the degree of elasticity of supply from the following graph:
Identify the value of elasticity of supply for the supply curve OS and S1S2.
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
Pick the option which does not belong to the group.
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 ______.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Draw a straight line supply showing elasticity greater than one.
The coefficient of elasticity of a commodity is 0.4. What percentage change in supply will take place if its price rises 20%?
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
How is elasticity of supply measured according to the percentage method?
Give the meaning of perfectly elastic supply.
Indicate the degree of elasticity on the supply curve given below:
Draw and explain the following degree of elasticity of supply.
Ep > 1
Why does the measure of price elasticity of supply of a good carry plus sign?
What do you mean by elastic supply?
When is supply of a good unitary elastic?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Draw relatively inelastic supply.
