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प्रश्न
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
पर्याय
E1 > 1
ES = 1
E1 < 1
E1 = 0
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उत्तर
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be E1 < 1.
Explanation:
Es = `("Percentage change in quantity supplied")/("Percentage change in price")`
Es = `(5%)/(50%)`
= 0.1
Since Es < 1, the supply is inelastic, meaning the percentage change in quantity supplied is less than the percentage change in price.
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संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
Draw a perfectly inelastic supply curve.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Identify the value of elasticity of supply for the supply curve OS and S1S2.
What is the degree of elasticity of supply in the diagram?
- Price elasticity of supply of a good is 0.8, its supply is said to be inelastic.
- If the quantity supplied of a commodity remain the same whatever its price supply is said to perfectly inelastic.
Pick the option which does not belong to the group.
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.
The coefficient of elasticity of a commodity is 0.4. What percentage change in supply will take place if its price rises 20%?
Price elasticity of supply is likely to be ______ in the long run.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
How is elasticity of supply measured according to the percentage method?
Give the meaning of perfectly inelastic supply.
Define price elasticity of supply.
What is meant by elasticity of supply?
What do you mean by perfectly inelastic supply?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Why is the supply of eggs inelastic?
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
