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प्रश्न
- 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.
पर्याय
Both (i) and (ii) are true
Both (i) and (ii) are false
Statement (i) is false and statement (ii) is true
Statement (i) is true and statement (ii) is false
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उत्तर
Both (i) and (ii) are true
Explanation:
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Statement (i) is true: If the price elasticity of the supply of a good is 0.8, it means that the supply is inelastic because the percentage change in quantity supplied is less than the percentage change in price.
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Statement (ii) is true: If the quantity supplied of a commodity remains the same regardless of its price, the supply is said to be perfectly inelastic. This is represented by a vertical supply curve, indicating that price changes do not affect the quantity supplied.
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संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
Define a relatively elastic 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?
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
If the price elsaticity of supply is 1 and the percentage change in price is 10, then the percentage change in quatity supplied should be ______.
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column:
| Column I | Column II |
| A. Perfectly Inelastic | (i) Es > 1 |
| B. Perfectly Elastic | (ii) Es < 1 |
| C. Inelastic | (iii) Es = 0 |
| D. Highly Elastic | (iv) Es = infinity |
Choose the correct alternative:
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?
Price elasticity of supply is likely to be ______ in the long run.
Explain any four determinants of elasticity of supply.
Indicate the degree of elasticity on the supply curve given below:
What is meant by elasticity of supply?
Why does the measure of pnce elasticity of supply of a good carry plus sign?
When is supply of a good unitary elastic?
What do you mean by perfectly inelastic supply?
Explain the percentage method of measuring price elasticity of supply.
Define a relatively inelastic supply.
