Advertisements
Advertisements
प्रश्न
If price elasticity of supply is greater than 1, then supply is said be elastic.
पर्याय
True
False
उत्तर
This statement is True.
Explanation:
When the price elasticity of supply is greater than 1, the percentage change in quantity supplied is greater than the percentage change in price. This indicates that supply is elastic, meaning producers are highly responsive to price changes.
APPEARS IN
संबंधित प्रश्न
Draw a perfectly inelastic supply curve.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
What is the formula for percentage method of calculating price elasticity of supply?
Identify the elasticity of supply for the following with proper reasoning:
Perishable and durable goods.
The given diagram is a case of ______ supply.
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
Elasticity of supply is measured by:
A linear supply curve starting from the origin making an angle of 75 degree with X-axis will have ______.
Define elasticity of supply.
Which of the following measures of price elasticity shows inelastic supply?
Cotton and cotton seeds are examples of ______ supply.
Explain any four determinants of elasticity of supply.
Give the meaning of perfectly inelastic supply.
Draw the supply curve showing price elasticity of supply equal to one.
Draw the supply curve showing price elasticity of supply greater 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 do you mean by elastic supply?
