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प्रश्न
If price elasticity of supply is greater than 1, then supply is said be elastic.
पर्याय
True
False
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उत्तर
This statement is True.
Explanation:
When the price elasticity of supply is greater than 1, the percentage change in quantity supplied is greater than the percentage change in price. This indicates that supply is elastic, meaning producers are highly responsive to price changes.
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संबंधित प्रश्न
Identify the degree of elasticity of supply from the following graph:
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 ______.
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
When the percentage change in the quantity supplied of a commodity is exactly equal to the percentage change in its price it is known as ______.
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:
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.
Which of the following measures of price elasticity shows inelastic supply?
The price of a commodity rises from ₹ 20 to ₹ 40 Consequently, its supply increases from 100 units to 400 units. Calculate price elasticity of supply.
Explain any four determinants of elasticity of supply.
Give the meaning of perfectly inelastic supply.
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
What is meant by elasticity of supply?
Using graphs, explain any four types of elasticity of supply.
What is meant by inelastic supply?
What do you mean by elastic supply?
Draw a straight line supply curve of the following situation.
More than unitary elastic
Draw relatively elastic supply.
