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प्रश्न
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
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उत्तर
The supply is inelastic because the value of the coefficient of price elasticity of supply is less than one.
संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Draw a perfectly elastic supply curve.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
Identify the degree of elasticity of supply from the following graph:
If price elasticity of supply is greater than 1, then supply is said be elastic.
The given diagram is a case of ______ supply.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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 an entrepreneur introduces a new technique or a new product, it is called ______.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
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:
When is the supply of a commodity is called elastic?
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Give the meaning of perfectly elastic supply.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to one.
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
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?
What do you mean by elastic supply?
Why is the supply of eggs inelastic?
Draw a straight line supply curve of the following situation.
More than unitary elastic
Define a relatively inelastic supply.
Draw relatively inelastic supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
