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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 perfectly inelastic supply curve.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
What is the formula for percentage method of calculating price elasticity of supply?
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
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 ______.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Which of the following measures of price elasticity shows inelastic supply?
Price elasticity of supply is likely to be ______ in the long run.
Draw and briefly explain a perfectly inelastic supply curve.
Give the meaning of perfectly inelastic supply.
Define price elasticity of supply.
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.
What is meant by elasticity of supply?
Draw a straight line supply curve of the following situation.
More than unitary elastic
