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प्रश्न
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
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उत्तर
The supply curves S1, S2, S3, and S4 exhibit various types of price elasticity of supply, which are as follows: The S1 - OS1 supply curve demonstrates Unitary Elastic Supply since the change in the amount supplied is proportional to the change in price. Symbolically, it is expressed as Es = 1.
The S2 - OS2 supply curve demonstrates More Elastic Supply because a little change in price causes a significant change in quantity delivered. Symbolically, it is expressed as Es > 1.
The S3 - OS3 supply curve demonstrates Perfectly Inelastic Supply, which means that a change in price causes no change in supply. Symbolically, it is expressed as Es = 0.
The S4 - OS4 supply curve demonstrates Less Elastic Supply since a change in price results in a modest change in supply. Symbolically, it is expressed as Es < 1.
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संबंधित प्रश्न
Identify the degree of elasticity of supply from the following graph:
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
If price elasticity of supply is greater than 1, then supply is said be elastic.
Which of the following statements are true?
The cost of production will increase if
- The government gives subsidies
- The firm uses obsolete technology
- The price of diesel increases
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
Define elasticity of supply.
When is the supply of a commodity is called elastic?
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
Cotton and cotton seeds are examples of ______ supply.
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
How is elasticity of supply measured according to the percentage method?
What is meant by elasticity of supply?
Using graphs, explain any four types of elasticity of supply.
If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?
Why is the supply of eggs inelastic?
Define a relatively inelastic supply.
