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प्रश्न
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
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उत्तर
Short-run supply elasticity is lower due to the assumption that producers cannot increase supply in the short term. However, in the long run, supply elasticity is higher. In the long run, manufacturers have time to alter supply.
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संबंधित प्रश्न
What is the degree of elasticity of supply in the diagram?
If price elasticity of supply is greater than 1, then supply is said be elastic.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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:
Define elasticity of supply.
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%?
Price elasticity of supply is likely to be ______ in the long run.
Draw and briefly explain a perfectly elastic supply curve.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to 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?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Why is the supply of eggs inelastic?
Explain the percentage method of measuring price elasticity of supply.
