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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. - Economic Applications

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Question

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.

Options

  • Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

  • Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

  • Assertion (A) is true but Reason (R) is false.

  • Assertion (A) is false but Reason (R) is true.

MCQ
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Solution

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

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Elasticity of Supply
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Chapter 3: Theory of Supply - QUESTIONS [Page 71]

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Goyal Brothers Prakashan Economic Applications [English] Class 10 ICSE
Chapter 3 Theory of Supply
QUESTIONS | Q 3. | Page 71
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