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प्रश्न
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
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उत्तर
When the percentage change in quantity supplied is greater than the percentage change in price, then supply for such a commodity is said to be highly elastic. In such a case, Es > 1, and the straight line supply curve originates from the Y-axis, as shown in the following diagram.
संबंधित प्रश्न
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
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
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
Give the meaning of perfectly inelastic supply.
Draw the supply curve showing price elasticity of supply greater than one.
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?
Draw a straight line supply curve of the following situation.
More than unitary elastic
Draw relatively inelastic supply.
