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प्रश्न
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
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उत्तर
The supply curves S1, S2, S3, and S4 exhibit various types of price elasticity of supply, which are as follows: The S1 - OS1 supply curve demonstrates Unitary Elastic Supply since the change in the amount supplied is proportional to the change in price. Symbolically, it is expressed as Es = 1.
The S2 - OS2 supply curve demonstrates More Elastic Supply because a little change in price causes a significant change in quantity delivered. Symbolically, it is expressed as Es > 1.
The S3 - OS3 supply curve demonstrates Perfectly Inelastic Supply, which means that a change in price causes no change in supply. Symbolically, it is expressed as Es = 0.
The S4 - OS4 supply curve demonstrates Less Elastic Supply since a change in price results in a modest change in supply. Symbolically, it is expressed as Es < 1.
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संबंधित प्रश्न
Draw a perfectly elastic supply curve.
If price elasticity of supply is greater than 1, then supply is said be elastic.
Which of the following statements are true?
The cost of production will increase if
- The government gives subsidies
- The firm uses obsolete technology
- The price of diesel increases
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 is the supply of a commodity is called elastic?
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
Price elasticity of supply is likely to be ______ in the long run.
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 elastic supply.
Give the meaning of perfectly inelastic supply.
Define price elasticity of supply.
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?
When is supply of a good unitary elastic?
What do you mean by perfectly inelastic supply?
Define a relatively inelastic supply.
Draw relatively elastic supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
