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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 inelastic supply curve.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
What is the formula for percentage method of calculating price elasticity of 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?
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
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
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column:
| 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:
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
How is elasticity of supply measured according to the percentage method?
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply less than one.
If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?
What do you mean by perfectly inelastic supply?
Explain the percentage method of measuring price elasticity of supply.
Draw relatively elastic supply.
