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Question
Why is the supply of eggs inelastic?
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Solution
Because eggs cannot be stored. They have to be sold out whatever is the price.
RELATED QUESTIONS
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Explain any three factors affecting elasticity of supply.
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
Which of the following measures of price elasticity shows elasticity shows elastic supply?
If price elasticity of supply is greater than 1, then supply is said be elastic.
- Price elasticity of supply of a good is 0.8, its supply is said to be inelastic.
- If the quantity supplied of a commodity remain the same whatever its price supply is said to perfectly inelastic.
The given diagram is a case of ______ supply.
When an entrepreneur introduces a new technique or a new product, it is called ______.
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.
Define elasticity of supply.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
Explain any four determinants of elasticity of supply.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to one.
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 elastic supply?
Explain the percentage method of measuring price elasticity of supply.
Draw relatively elastic supply.
