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प्रश्न
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
पर्याय
Law of demand
Law of supply
Elasticity of demand
Elasticity of supply
उत्तर
Elasticity of supply
Explanation:
The elasticity of supply is the term used to describe the ratio between the percentage change in the quantity supplied and the percentage change in price. It measures how responsive a good's supply is to price changes.
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संबंधित प्रश्न
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
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Pick the option which does not belong to the group.
Define elasticity of supply.
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Draw and briefly explain a perfectly elastic supply curve.
How is elasticity of supply measured according to percentage method?
Give the meaning of perfectly inelastic supply.
Draw the supply curve showing price elasticity of supply less than one.
Indicate the degree of elasticity on the supply curve given below:
Identify and define the degree of price elasticity of supply from the diagram for the supply curves S1, S2, S3, S4.
What is meant by elasticity of supply?
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