Advertisements
Advertisements
Question
What is meant by inelastic supply?
Advertisements
Solution
If the percentage change in supply of a good is less than the percentage change in the price, then the supply of the good is said to be inelastic. (i.e. Es < 1)
RELATED QUESTIONS
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Draw a perfectly elastic supply curve.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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:
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.
Which of the following measures of price elasticity shows inelastic supply?
When is the supply of a commodity is called elastic?
Draw a straight line supply showing elasticity greater than one.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
The coefficient of elasticity of a commodity is 0.4. What percentage change in supply will take place if its price rises 20%?
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
Price elasticity of supply is likely to be ______ in the long run.
Cotton and cotton seeds are examples 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.
Draw and briefly explain a perfectly elastic supply curve.
Explain any four determinants of elasticity of supply.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply greater than one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
What is meant by elasticity of supply?
What do you mean by perfectly inelastic supply?
Define a relatively inelastic supply.
Draw relatively elastic supply.
