Advertisements
Advertisements
Question
When is the supply of a commodity is called elastic?
Advertisements
Solution
If the percentage change in supply of a good is greater than the percentage change in the price then the supply of the good is said to be elastic. (Es > 1)
RELATED QUESTIONS
Explain briefly the impact of the cost of production on the 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:
Nature of the entrepreneurs.
Which of the following measures of price elasticity shows elasticity shows elastic supply?
The given diagram is a case of ______ supply.

When an entrepreneur introduces a new technique or a new product, it is called ______.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Which of the following measures of price elasticity shows inelastic supply?
Draw a straight line supply showing elasticity greater than one.
Cotton and cotton seeds are examples of ______ supply.
Draw and briefly explain a perfectly inelastic supply curve.
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.
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
Explain any four determinants of elasticity of supply.
Give the meaning of perfectly elastic supply.
Give the meaning of perfectly inelastic supply.
Draw the supply curve showing price elasticity of supply greater than one.
Indicate the degree of elasticity on the supply curve given below:

Draw and explain the following degree of elasticity of supply.
Ep > 1
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.

What is meant by elasticity of supply?
When is supply of a good unitary elastic?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
Explain the percentage method of measuring price elasticity of supply.
