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प्रश्न
If price elasticity of supply is greater than 1, then supply is said be elastic.
विकल्प
True
False
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उत्तर
This statement is True.
Explanation:
When the price elasticity of supply is greater than 1, the percentage change in quantity supplied is greater than the percentage change in price. This indicates that supply is elastic, meaning producers are highly responsive to price changes.
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संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
What is the formula for percentage method of calculating price elasticity of supply?
- 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.
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 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 ______.
Which of the following measures of price elasticity shows inelastic supply?
When is the supply of a commodity is called elastic?
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
Explain any four determinants of elasticity of supply.
How is elasticity of supply measured according to the percentage method?
Define price elasticity of supply.
Indicate the degree of elasticity on the supply curve given below:
Indicate the degree of elasticity on the supply curve given below:
Using graphs, explain any four types of elasticity of supply.
What do you mean by perfectly inelastic supply?
Why is the supply of eggs inelastic?
Explain the percentage method of measuring price elasticity of supply.
