Advertisements
Advertisements
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
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Draw a perfectly elastic supply curve.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
What is the degree of elasticity of supply in the diagram?
The given diagram is a case of ______ supply.
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 ______.
Which of the following measures of price elasticity shows inelastic supply?
Draw a straight line supply showing elasticity greater than one.
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Indicate the degree of elasticity on the supply curve given below:
What is meant by elasticity of supply?
When is supply of a good unitary elastic?
Why is the supply of eggs inelastic?
Explain the percentage method of measuring price elasticity of supply.
