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प्रश्न
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
पर्याय
Inelastic
Elastic
Perfectly elastic
Perfectly inelastic
उत्तर
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be inelastic.
Explanation:
Elasticity of supply is calculated as the percentage change in quantity supplied divided by the percentage change in price.
Elasticity of Supply (Es) = `("Percentage change in quantity supplied")/("Percentage change in price")`
Es = `(5%)/(10%)` = 0.5
Since the elasticity of supply is less than 1 (Es = 0.5), the supply is considered inelastic.
संबंधित प्रश्न
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Perishable and durable goods.
Identify the elasticity of supply for the following with proper reasoning:
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When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
- Price elasticity of supply of a good is 0.8, its supply is said to be inelastic.
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The given diagram is a case of ______ supply.
Elasticity of supply is measured by:
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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:
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
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Cotton and cotton seeds are examples of ______ supply.
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How is elasticity of supply measured according to percentage method?
Give the meaning of perfectly elastic supply.
Draw the supply curve showing price elasticity of supply equal to one.
Draw the supply curve showing price elasticity of supply less than one.
Draw and explain the following degree of elasticity of supply.
Ep > 1
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
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Using graphs, explain any four types of elasticity of supply.
What do you mean by elastic supply?
Draw relatively inelastic supply.
