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प्रश्न
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
उत्तर
Elasticity of Supply (Es) = `("Percentage change in quantity supplied")/("Percentage change in price")`
Percentage change in price = 2%
Percentage change in quantity supplied = 4%
Es = `(4%)/(2%)`
= 2
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संबंधित प्रश्न
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
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.
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 ______.
Pick the option which does not belong to the group.
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:
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
Price elasticity of supply is likely to be ______ in the long run.
Explain any four determinants of elasticity of supply.
Draw the supply curve showing price elasticity of supply less than one.
Using graphs, explain any four types of elasticity of supply.
Why does the measure of pnce elasticity of supply of a good carry plus sign?
When is supply of a good unitary elastic?
What do you mean by perfectly inelastic supply?
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Draw a straight line supply curve of the following situation.
More than unitary elastic
Draw relatively elastic supply.
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
