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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 the law of supply.
State and explain the law of supply with exceptions.
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A rightward shift in supply curve shows ______.
Law of supply states that ______.
The Law of Supply states that other things being constant ______.
The producers prefer to supply more when prices are ______.
Explain the law of supply.
Price and Supply move in the same direction. Justify the statement.
State and explain the law of supply with the help of a diagram.
What is supply function?
Which statement best expresses the Law of Supply?
What is the relationship between price and quantity supplied described by 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?
