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प्रश्न
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = α
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उत्तर
When there is an infinite supply at a particular price, then the supply is said to be perfectly elastic. The supply curve is a horizontal straight line parallel to the x-axis, as shown in the diagram. Quantity supplied can be OM, OQ or ON at the same price as OP.
संबंधित प्रश्न
Identify the degree of elasticity of supply from the following graph:
If price elasticity of supply is greater than 1, then supply is said be elastic.
- 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.
When an entrepreneur introduces a new technique or a new product, it is called ______.
Define elasticity of supply.
Price elasticity of supply is likely to be ______ in the long run.
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.
If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?
Why does the measure of price elasticity of supply of a good carry plus sign?
What do you mean by elastic supply?
