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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 = 0
With the help of a suitable diagram, explain the perfectly inelastic supply.
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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., Es = 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, the 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
Draw a perfectly elastic supply curve.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
What is the formula for percentage method of calculating price elasticity of supply?
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
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.
When an entrepreneur introduces a new technique or a new product, it is called ______.
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.
Draw a straight line supply showing elasticity greater than one.
Cotton and cotton seeds are examples of ______ supply.
Draw the supply curve showing price elasticity of supply less than one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
What is meant by elasticity of supply?
Why does the measure of price elasticity of supply of a good carry plus sign?
What do you mean by elastic supply?
When is supply of a good unitary elastic?
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.
