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प्रश्न
What are the factors governing the elasticity of supply?
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उत्तर
- Nature of the commodity: elasticity of supply of durable goods is high but perishables have a low elasticity of supply.
- Cost of production: Under constant or increasing returns the elasticity of supply is greater, under diminishing returns elasticity is less.
- Technical condition In large-scale production, supply cannot be adjusted easily. So elasticity of supply is lesser and vice versa.
- Time factor: During a very short period, supply cannot be adjusted. In a short period, variable factors can be changed so elasticity is more and in a long period, supply is highly elastic.
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संबंधित प्रश्न
State the law of supply.
State and explain the law of supply with exceptions.
The relationship between the price of a commodity and the supply of commodity is
What are the reasons for upward sloping supply curve?
State and explain the elasticity of supply.
Elucidate the Laws of Returns to Scale. Illustrate.
The Law of Supply states that other things being constant ______.
The producers prefer to supply more when prices are ______.
Explain the law of supply.
Price and Supply move in the same direction. Justify the statement.
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?
What is supply function?
Which statement best expresses the Law of Supply?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
Which real-life example best illustrates the Law of Supply?
