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प्रश्न
- 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.
विकल्प
Both (i) and (ii) are true
Both (i) and (ii) are false
Statement (i) is false and statement (ii) is true
Statement (i) is true and statement (ii) is false
उत्तर
Both (i) and (ii) are true
Explanation:
-
Statement (i) is true: If the price elasticity of the supply of a good is 0.8, it means that the supply is inelastic because the percentage change in quantity supplied is less than the percentage change in price.
-
Statement (ii) is true: If the quantity supplied of a commodity remains the same regardless of its price, the supply is said to be perfectly inelastic. This is represented by a vertical supply curve, indicating that price changes do not affect the quantity supplied.
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संबंधित प्रश्न
Define a relatively elastic supply.
Identify the degree of elasticity of supply from the following graph:
What is the formula for percentage method of calculating price elasticity of supply?
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
Which of the following measures of price elasticity shows elasticity shows elastic supply?
The given diagram is a case of ______ supply.
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column:
| 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:
Which of the following measures of price elasticity shows inelastic supply?
When is the supply of a commodity is called elastic?
Price elasticity of supply is likely to be ______ in the long run.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Draw and briefly explain a perfectly elastic supply curve.
Explain any four determinants of elasticity of 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:
What is meant by elasticity of supply?
Draw relatively inelastic supply.
