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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
What is the formula for percentage method of calculating price elasticity of supply?
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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:
Assertion (A): In case of perfectly inelastic supply, supply curve is a vertical straight line supply curve.
Reason (R): Supply does not change with change in price in case of Es = 0.
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 ______.
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.
Draw the supply curve showing price elasticity of supply greater than one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
