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प्रश्न
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = α
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उत्तर
When there is an infinite supply at a particular price, then the supply is said to be perfectly elastic. The supply curve is a horizontal straight line parallel to the x-axis, as shown in the diagram. Quantity supplied can be OM, OQ or ON at the same price as OP.
संबंधित प्रश्न
Explain briefly the impact of the cost of production on the elasticity of supply.
- 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.
When an entrepreneur introduces a new technique or a new product, it is called ______.
When is the supply of a commodity is called elastic?
Draw a straight line supply showing elasticity greater than one.
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
The price of a commodity rises from ₹ 20 to ₹ 40 Consequently, its supply increases from 100 units to 400 units. Calculate price elasticity of supply.
How is elasticity of supply measured according to the percentage method?
Give the meaning of perfectly inelastic supply.
Explain the percentage method of measuring price elasticity of supply.
