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प्रश्न
What is meant by inelastic supply?
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उत्तर
If the percentage change in supply of a good is less than the percentage change in the price, then the supply of the good is said to be inelastic. (i.e. Es < 1)
संबंधित प्रश्न
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
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What is the formula for percentage method of calculating price elasticity of supply?
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Identify the elasticity of supply for the following with proper reasoning:
Perishable and durable goods.
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The ratio between the percentage change in supply to a percentage change in price.
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Indicate the degree of elasticity on the supply curve given below:
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What do you mean by elastic supply?
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