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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.
What are the reasons for upward sloping supply curve?
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
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.
Explain the law of supply.
Price and Supply move in the same direction. Justify the statement.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
Which of the following is NOT an assumption of the Law of Supply?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
Which of these situations violates the "ceteris paribus" (other things being constant) condition for the Law of Supply?
What does the supply curve typically look like according to the Law of Supply?
Which real-life example best illustrates the Law of Supply?
