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प्रश्न
If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?
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उत्तर
Price elasticity of supply (Es) = `("Percentage change in quantity supplied")/("Percentage change in price")`
= `(20%)/(10%)`
= 2
संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
Draw a perfectly inelastic supply curve.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
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Perishable and durable goods.
What is the degree of elasticity of supply in the diagram?
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
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- 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.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
When an entrepreneur introduces a new technique or a new product, it is called ______.
Elasticity of supply is measured by:
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 ______.
Define elasticity of supply.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
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Give the meaning of perfectly inelastic supply.
Define price elasticity of supply.
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Draw the supply curve showing price elasticity of supply greater than one.
Using graphs, explain any four types of elasticity of supply.
What is meant by inelastic supply?
What do you mean by elastic supply?
What do you mean by perfectly inelastic supply?
Draw relatively elastic supply.
