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प्रश्न
Explain the effect of technological progress on supply of a good.
उत्तर
A supply curve is a graphic presentation of the supply schedule showing the positive relationship between the market price of a good and the quantity supplied.
With advances in technology, the cost of production falls and the profit increases. This leads to an increase in the supply of a good which shifts the supply curve towards the right
The above diagram shows that the advancement in technology shifts the supply curve S towards the right from S to S1 and the increase in the supply of good from OQ to OQ1. However, the price of the good OP remains constant
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संबंधित प्रश्न
Price is the only determinant of supply.
Individual supply and Market supply.
When price of a good rises from Rs 10 to Rs 12 per unit the producer supplies 10 percent more. Calculate price elasticity of supply.
What is perfectly elastic supply?
Supply is directly related to price.
Explain, with reason, whether you Agree or Disagree with the following statement
There is no difference between stock and supply.
Give one reason for an “increase” in supply of a commodity.
Give reason or explain the following.
Supply is directly related to price.
Explain with reason, whether you agree or disagree with the following statement:
There is direct relationship between price and quantity supplied.
Fill in the blank with appropriate alternatives given in the bracket:
________ is one of the determinants of aggregate supply.
Match the following:
| Group A | Group B |
| 1) Perfectly Elastic Supply | a. Vertical supply curve |
| 2) Stock | b. Horizontal supply curve |
| 3) Increase in supply | c. Potential supply |
| 4) Perfectly Inelastic supply | d. Rightward shift in supply curve |
| 5) `"TC"/"TQ"` | e. Leftward shift in |
| f. Average cost |
State whether the following statement is TRUE and FALSE.
If price falls, the supply curve will shift to left.
State whether the following statement is TRUE and FALSE.
Total Cost is the total expenditure incurred by a firm.
Give reason or explain:
Stock can exceed supply.
Distinguish between the following:
Relatively Elastic Supply and Relatively Inelastic Supply
Answer the following question:
What are the exceptions to the law of supply?
Answer the following about 200 to 250 words
State and explain the law of supply. What are the exceptions to this law?
Choose the correct alternative from given options:
The coefficient of price elasticity of supply of a good is 3. It is known as ___________.
Identify & explain the concept from the given illustration.
Amar sells 50 dozens of mangoes daily at ₹ 300/- per dozen.
