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प्रश्न
Identify the degree of elasticity of supply from the following graph:
पर्याय
ES > 1
ES < 1
ES = 1
ES = 0
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उत्तर
ES = 1
Explanation: The supply of a commodity is said to be unit elastic when the percentage change in supply is equal to percentage change in price. Thus, any straight line supply curve drawn through the origin has an elasticity of unity over its entire length, irrespective of its slope.
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संबंधित प्रश्न
Explain briefly the impact of the cost of production on the 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 ______.
Which of the following measures of price elasticity shows elasticity shows elastic supply?
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.
Define elasticity of supply.
Draw and briefly explain a perfectly elastic supply curve.
Draw the supply curve showing price elasticity of supply equal to one.
Draw the supply curve showing price elasticity of supply less than one.
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
