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प्रश्न
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es > 1
उत्तर
When the percentage change in quantity supplied is greater than the percentage change in price, then supply for such a commodity is said to be highly elastic. In such a case, Es > 1, and the straight line supply curve originates from the Y-axis, as shown in the following diagram.
संबंधित प्रश्न
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Identify the degree of elasticity of supply from the following graph:
Explain any three factors affecting elasticity of supply.
- Price elasticity of supply of a good is 0.8, its supply is said to be inelastic.
- If the quantity supplied of a commodity remain the same whatever its price supply is said to perfectly inelastic.
When the percentage change in the quantity supplied of a commodity is exactly equal to the percentage change in its price it is known as ______.
Assertion (A): In case of perfectly inelastic supply, supply curve is a vertical straight line supply curve.
Reason (R): Supply does not change with change in price in case of Es = 0.
Define elasticity of supply.
Which of the following measures of price elasticity shows inelastic supply?
Draw and explain the following degree of elasticity of supply.
Ep > 1
Draw relatively inelastic supply.
