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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
Draw a perfectly inelastic supply curve.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
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Short run and long run period.
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- 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.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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 ______.
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.
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| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
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Ep > 1
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