Advertisements
Advertisements
प्रश्न
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
पर्याय
Inelastic
Elastic
Perfectly elastic
Perfectly inelastic
Advertisements
उत्तर
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be inelastic.
Explanation:
Elasticity of supply is calculated as the percentage change in quantity supplied divided by the percentage change in price.
Elasticity of Supply (Es) = `("Percentage change in quantity supplied")/("Percentage change in price")`
Es = `(5%)/(10%)` = 0.5
Since the elasticity of supply is less than 1 (Es = 0.5), the supply is considered inelastic.
संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Define a relatively elastic supply.
Identify the elasticity of supply for the following with proper reasoning:
Nature of the entrepreneurs.
If price elasticity of supply is greater than 1, then supply is said be elastic.
The given diagram is a case of ______ supply.
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 ______.
Pick the option which does not belong to the group.
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.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity 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.
Explain any four determinants of elasticity of supply.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
Using graphs, explain any four types of elasticity of supply.
What do you mean by perfectly inelastic supply?
Explain the percentage method of measuring price elasticity of supply.
Draw a straight line supply curve of the following situation.
More than unitary elastic
