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प्रश्न
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
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उत्तर
Es = `25/50`
= `1/2`
= 0.5
Supply is inelastic
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संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
Identify the value of elasticity of supply for the supply curve OS and S1S2.
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.
Elasticity of supply is measured by:
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 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:
Which of the following measures of price elasticity shows inelastic supply?
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.
Draw and briefly explain a perfectly inelastic supply curve.
Explain any four determinants of elasticity of supply.
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
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 elastic supply?
What do you mean by perfectly inelastic supply?
Explain the percentage method of measuring price elasticity of supply.
Define a relatively inelastic supply.
