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प्रश्न
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
उत्तर
In advanced technologies, supply elasticity is greater than 1. Advanced technology enables producers to adapt supplies and reduce costs, leading to increased production. Inelastic supply occurs when a producer uses outdated technology and is unable to adjust supply elasticity.
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संबंधित प्रश्न
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 ______.
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.
When an entrepreneur introduces a new technique or a new product, it is called ______.
Elasticity of supply is measured by:
When the percentage change in the quantity supplied of a commodity is exactly equal to the percentage change in its price it is known as ______.
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:
Define elasticity of supply.
When is the supply of a commodity is called elastic?
Draw a straight line supply showing elasticity greater than one.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
Draw and briefly explain a perfectly inelastic supply curve.
Give the meaning of perfectly elastic supply.
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
Why does the measure of pnce elasticity of supply of a good carry plus sign?
What is meant by inelastic supply?
What do you mean by elastic supply?
Why is the supply of eggs inelastic?
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
