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
Identify the elasticity of supply for the following with proper reasoning:
Nature of the entrepreneurs.
What is the degree of elasticity of supply in the diagram?
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
The given diagram is a case of ______ 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
Pick the option which does not belong to the group.
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 ______.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Define elasticity of supply.
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.
Price elasticity of supply is likely to be ______ in the long run.
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.
How is elasticity of supply measured according to the percentage method?
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply greater than one.
Indicate the degree of elasticity on the supply curve given below:
What is meant by elasticity of supply?
Using graphs, explain any four types of elasticity of supply.
What is meant by inelastic supply?
What do you mean by elastic supply?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Explain the percentage method of measuring price elasticity of supply.
Draw relatively elastic supply.
