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प्रश्न
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
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उत्तर
The supply is inelastic because the value of the coefficient of price elasticity of supply is less than one.
संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
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 ______.
- 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.
Elasticity of supply is measured by:
Pick the option which does not belong to the group.
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 ______.
Assertion (A): In case of perfectly inelastic supply, supply curve is a vertical straight line supply curve.
Reason (R): Supply does not change with change in price in case of Es = 0.
Draw a straight line supply showing elasticity greater than one.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Draw and briefly explain a perfectly inelastic supply curve.
The price of a commodity rises from ₹ 20 to ₹ 40 Consequently, its supply increases from 100 units to 400 units. Calculate price elasticity of supply.
Draw and briefly explain a perfectly elastic supply curve.
Draw the supply curve showing price elasticity of supply greater than one.
Draw the supply curve showing price elasticity of supply less than one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
What is meant by elasticity of supply?
Using graphs, explain any four types of elasticity of supply.
What is meant by inelastic supply?
Explain the percentage method of measuring price elasticity of supply.
Draw a straight line supply curve of the following situation.
More than unitary elastic
Draw relatively inelastic supply.
Draw relatively elastic supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
