Advertisements
Advertisements
Question
Draw relatively elastic supply.
Solution
APPEARS IN
RELATED QUESTIONS
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Identify the degree of elasticity of supply from the following graph:
What is the degree of elasticity of supply in the diagram?
If price elasticity of supply is greater than 1, then supply is said be elastic.
Price of a product increases by 2%. As a result, its supply rises by 4%. What is elasticity of supply of the commodity?
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
What is meant by elasticity of supply?
Using graphs, explain any four types of elasticity of supply.
What do you mean by perfectly inelastic supply?
Draw relatively inelastic supply.
