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प्रश्न
Give the meaning of perfectly elastic supply.
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उत्तर
When the supply of a commodity changes without change in its price, the supply of a commodity changes without change in its price, the supply of the commodity will be called perfectly elastic. The value of price elasticity of supply in this case is infinity, es = α. It is purely an imaginary concept and can only be explained with the help of an imaginary supply schedule as given below.
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संबंधित प्रश्न
Define a relatively elastic supply.
Identify the degree of elasticity of supply from the following graph:
If price elasticity of supply is greater than 1, then supply is said be elastic.
- 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 the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
Pick the option which does not belong to the group.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Define elasticity of supply.
Draw a straight line supply showing elasticity greater than one.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
How is elasticity of supply measured according to the percentage method?
Define price elasticity of supply.
Indicate the degree of elasticity on the supply curve given below:
Using graphs, explain any four types of elasticity of supply.
What do you mean by elastic supply?
When is supply of a good unitary elastic?
Draw relatively inelastic supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
