HSC Commerce (Marketing and Salesmanship) 12th Board ExamMaharashtra State Board
Account
It's free!

User


Login
Create free account


      Forgot password?
Share
Notifications

View all notifications
Books Shortlist
Your shortlist is empty

Solution - Elasticity of Supply - HSC Commerce (Marketing and Salesmanship) 12th Board Exam - Economics

Question

Elasticity of supply

Solution

Responsiveness of producers to changes in the price of their goods or services. As a general rule, if prices rise so does the supplyElasticity of supply is measured as the ratio of proportionate change in the quantity supplied to the proportionate change in price. High elasticity indicates the supplyis sensitive to changes in prices, low elasticity indicates little sensitivity to price changes, and no elasticity means no relationship with price.

Is there an error in this question or solution?

APPEARS IN

 2014-2015 (March) (with solutions)
Question 2.1.2 | 2 marks
Solution for question: Elasticity of Supply concept: Concept of Supply. For the courses HSC Commerce (Marketing and Salesmanship), HSC Science (Computer Science), HSC Science (Electronics), HSC Arts, HSC Science (General) , HSC Commerce
S