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प्रश्न
What are the factors governing the elasticity of supply?
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उत्तर
- Nature of the commodity: elasticity of supply of durable goods is high but perishables have a low elasticity of supply.
- Cost of production: Under constant or increasing returns the elasticity of supply is greater, under diminishing returns elasticity is less.
- Technical condition In large-scale production, supply cannot be adjusted easily. So elasticity of supply is lesser and vice versa.
- Time factor: During a very short period, supply cannot be adjusted. In a short period, variable factors can be changed so elasticity is more and in a long period, supply is highly elastic.
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संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement:
There is a direct relationship between price and quantity supplied.
The relationship between the price of a commodity and the supply of commodity is
Examine the Law of Variable Proportions with the help of a diagram.
Elucidate the Laws of Returns to Scale. Illustrate.
A rightward shift in supply curve shows ______.
Other things remaining unchanged, change in supply due to increase in price is called ______.
The Law of Supply states that other things being constant ______.
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
The producers prefer to supply more when prices are ______.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
What is supply function?
Which statement best expresses the Law of Supply?
Which of the following is NOT an assumption of the Law of Supply?
Which of these situations violates the "ceteris paribus" (other things being constant) condition for the Law of Supply?
What is the relationship between price and quantity supplied described by the Law of Supply?
Which of the following is an exception to the Law of Supply?
Which factor is assumed to remain unchanged under the Law of Supply?
Which real-life example best illustrates the Law of Supply?
