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प्रश्न
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
विकल्प
Zero
Infinity
1
10
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उत्तर
1
Explanation:
Price Elasticity of Supply (Es) is calculated using the formula:
Elasticity of Supply (Es) = `("Percentage change in quantity supplied")/("Percentage change in price")`
Es = `(10%)/(10%) =1`
An elasticity of 1 indicates unitary elasticity, where the percentage change in quantity supplied is exactly equal to the percentage change in price.
संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Which of the following measures of price elasticity shows elasticity shows elastic supply?
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
Which of the following statements are true?
The cost of production will increase if
- The government gives subsidies
- The firm uses obsolete technology
- The price of diesel increases
If the price elsaticity of supply is 1 and the percentage change in price is 10, then the percentage change in quatity supplied should be ______.
Elasticity of supply is measured by:
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 ______.
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?
Draw a straight line supply showing elasticity greater than one.
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Cotton and cotton seeds are examples of ______ supply.
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.
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.
Give the meaning of perfectly inelastic supply.
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Draw the supply curve showing price elasticity of supply equal to one.
Draw the supply curve showing price elasticity of supply less than one.
Indicate the degree of elasticity on the supply curve given below:
Indicate the degree of elasticity on the supply curve given below:
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 inelastic supply?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Why is the supply of eggs inelastic?
Explain the percentage method of measuring price elasticity of supply.
