Advertisements
Advertisements
Question
When is supply of a good unitary elastic?
Advertisements
Solution
If the percentage change in supply of a good is equal to the percentage change in the price, then the supply of the good is said to be unitary elastic. (Es = 1)
RELATED QUESTIONS
Draw a perfectly inelastic supply curve.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Identify the degree of elasticity of supply from the following graph:
Explain any three factors affecting elasticity of supply.
Identify the value of elasticity of supply for the supply curve OS and S1S2.
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
Identify the elasticity of supply for the following with proper reasoning:
Perishable and durable goods.
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
The given diagram is a case of ______ supply.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
If the price elsaticity of supply is 1 and the percentage change in price is 10, then the percentage change in quatity supplied should be ______.
Pick the option which does not belong to the group.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
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.
When is the supply of a commodity is called elastic?
The coefficient of elasticity of a commodity is 0.4. What percentage change in supply will take place if its price rises 20%?
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Give the meaning of perfectly elastic supply.
Draw the supply curve showing price elasticity of supply greater than one.
Using graphs, explain any four types of elasticity of supply.
What do you mean by perfectly inelastic supply?
Why is the supply of eggs inelastic?
Define a relatively inelastic supply.
Draw relatively inelastic supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
