Advertisements
Advertisements
प्रश्न
When price falls by Rs 2 per unit, supply falls from 100 units to 80 units. Price elasticity of supply is 2. What was the price per unit before change?Calculate.
उत्तर
Given that
Actualquantity(Q) = 100, New quantity supplied(Q1) = 80 and Es = 2
Change in price (ΔP) = 2
ΔQ = Q1 - Q
= 80 - 100 = (-)20
`"Price elasticity of supply"(E_s)=(DeltaQ)/(DeltaP)xxP/Q`
`2=((-)20)/2xx?/100`
P = (-)20
Initially, the pricewas Rs 20 per unit i.e. before the quantity change.
APPEARS IN
संबंधित प्रश्न
Price is the only determinant of supply.
Elasticity of supply
Individual supply and Market supply.
When the price of a good rises from Rs 20 per unit to Rs 30 per unit, the revenue of the firm producing this good rises from Rs 100 to Rs 300. Calculate the price elasticity of supply.
When price of a commodity falls from Rs 12 per unit to Rs 9 per unit, the producer supplies 75 percent less output. Calculate price elasticity of supply.
What is perfectly elastic supply?
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.
State the components of supply of money.
Fill in the blank using proper alternative given in the bracket:
Other factors remaining constant, when price of a commodity raises there is ................. of supply.
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 alternative given below
The vertical supply curve represents _____________ elasticity.
Give reason or explain:
Stock can exceed supply.
Answer the following about 200 to 250 words
Explain various methods to measure Price Elasticity of Supply.
Choose the correct alternative from given options:
The coefficient of price elasticity of supply of a good is 3. It is known as ___________.
Observe the following table and answer the questions:
Supply schedule of chocolates
| Price in ₹ | Quantity supplied in units |
| 10 | 200 |
| 15 | ______ |
| 20 | 300 |
| 25 | 350 |
| 30 | ______ |
| 35 | ______ |
| 40 | ______ |
- Complete the above supply schedule.
- Draw a diagram for the above supply schedule.
- State the relationship between price and quantity supplied.
