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प्रश्न
Identify the degree of elasticity of supply from the following graph:
पर्याय
ES > 1
ES < 1
ES = 1
ES = 0
उत्तर
ES = 1
Explanation: The supply of a commodity is said to be unit elastic when the percentage change in supply is equal to percentage change in price. Thus, any straight line supply curve drawn through the origin has an elasticity of unity over its entire length, irrespective of its slope.
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संबंधित प्रश्न
Define a relatively elastic supply.
When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.
If price elasticity of supply is greater than 1, then supply is said be elastic.
Which of the following statements are true?
The cost of production will increase if
- The government gives subsidies
- The firm uses obsolete technology
- The price of diesel increases
When an entrepreneur introduces a new technique or a new product, it is called ______.
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:
Give the meaning of perfectly inelastic supply.
What is meant by inelastic supply?
Why is the supply of eggs inelastic?
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
