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प्रश्न
State and explain the elasticity of supply.
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उत्तर
The elasticity of supply may be defined as the degree of responsiveness of change in supply to change in price on the part of sellers.
Mathematically:
Elasticity Of supply = `"Proportionate change in supply"/"Proportionate change in price"`
Es = `"ΔQs"/"ΔPs"xx"P"/"Q"`
Q – Supply, p – price, ∆ – change.
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संबंधित प्रश्न
State the law of supply.
State with reason whether you agree or disagree with the following statement:
There is a direct relationship between price and quantity supplied.
What are the functions of Entrepreneur?
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
The producers prefer to supply more when prices are ______.
Explain the law of supply.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
What does the Law of Supply state?
Which statement best expresses the Law of Supply?
What happens to the quantity supplied if the price of potatoes rises from ₹1 to ₹5 per kg, according to the supply schedule?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
Which of these situations violates the "ceteris paribus" (other things being constant) condition for the Law of Supply?
What is the relationship between price and quantity supplied described by the Law of Supply?
Which of the following is an exception to the Law of Supply?
Which factor is assumed to remain unchanged under the Law of Supply?
Which real-life example best illustrates the Law of Supply?
