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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
Draw a perfectly elastic supply curve.
Identify the degree of elasticity of supply from the following graph:
Explain any three factors affecting elasticity of supply.
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I:
| Column I | Column II |
| A. Perfectly Inelastic | (i) Es > 1 |
| B. Perfectly Elastic | (ii) Es < 1 |
| C. Inelastic | (iii) Es = 0 |
| D. Highly Elastic | (iv) Es = infinity |
Choose the correct alternative:
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
Give the meaning of perfectly elastic supply.
Give the meaning of perfectly inelastic supply.
