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प्रश्न
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.
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उत्तर
Es = `25/50`
= `1/2`
= 0.5
Supply is inelastic
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संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
Identify the elasticity of supply for the following with proper reasoning:
Perishable and durable goods.
What is the degree of elasticity of supply in the diagram?
If price elasticity of supply is greater than 1, then supply is said be elastic.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
Elasticity of supply is measured by:
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 ______.
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.
Draw a straight line supply showing elasticity greater than one.
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
Draw and briefly explain a perfectly elastic supply curve.
Draw the supply curve showing price elasticity of supply less than one.
What do you mean by perfectly inelastic supply?
Draw a straight line supply curve of the following situation.
More than unitary elastic
Define a relatively inelastic supply.
Draw relatively inelastic supply.
Draw relatively elastic supply.
