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प्रश्न
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
पर्याय
Law of demand
Law of supply
Elasticity of demand
Elasticity of supply
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उत्तर
Elasticity of supply
Explanation:
The elasticity of supply is the term used to describe the ratio between the percentage change in the quantity supplied and the percentage change in price. It measures how responsive a good's supply is to price changes.
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संबंधित प्रश्न
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Identify the degree of elasticity of supply from the following graph:
Identify the value of elasticity of supply for the supply curve OS and S1S2.
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
Which of the following measures of price elasticity shows elasticity shows elastic supply?
- 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 ______.
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 ______.
Draw and briefly explain a perfectly inelastic supply curve.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to one.
Draw the supply curve showing price elasticity of supply greater than one.
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.
Using graphs, explain any four types of elasticity of supply.
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 pnce elasticity of supply of a good carry plus sign?
What do you mean by elastic supply?
