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प्रश्न
Draw and briefly explain a perfectly inelastic supply curve.
Give the meaning of perfectly inelastic supply.
Draw and explain the following degree of elasticity of supply.
Ep = ∞
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उत्तर
If there is no change in quantity supplied with changes in the price of the product, then the supply of that commodity becomes perfectly inelastic (i.e., E5 = 0). The supply curve will be a vertical line. This refers to when only one quantity can be supplied at any given price. The shape of perfectly inelastic supply is shown below.
The figure clearly shows that quantity supplied is fixed at OQ, whatever the price (P, P1 or P2). At all points on such a straight line supply curve, price elasticity of supply will be zero. The supply of genuine antique furniture is perfectly inelastic. Its supply cannot be changed. Antique furniture sellers cannot increase or decrease the amount of postage furniture they produce. Likewise the supply of rare books, stamps, old coins etc. is of this type.
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संबंधित प्रश्न
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
Explain any three factors affecting elasticity of supply.
Identify the value of elasticity of supply for the supply curve OS and S1S2.
Which of the following measures of price elasticity shows elasticity shows elastic supply?
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
Elasticity of supply is measured by:
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.
When is the supply of a commodity is called elastic?
Cotton and cotton seeds are examples 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.
Draw the supply curve showing price elasticity of supply equal to one.
Indicate the degree of elasticity on the supply curve given below:
Draw and explain the following degree of elasticity of supply.
Ep > 1
Why does the measure of pnce elasticity of supply of a good carry plus sign?
What is meant by inelastic supply?
When is supply of a good unitary elastic?
Draw relatively elastic supply.
