Advertisements
Advertisements
Questions
Draw the supply curve showing price elasticity of supply less than one.
Draw a straight line supply curve for the following situation.
Less than unitary elastic
Solution
Less than unitary elastic: Any straight line supply curve that cuts the x-axis in the positive region has inelastic supply. Supply curve S3 shows less than unitary elastic supply.
RELATED QUESTIONS
With the help of a suitable diagram, explain the following degree of elasticity of supply.
Es = ∞
Define a relatively elastic supply.
What is the formula for percentage method of calculating price elasticity of supply?
The given diagram is a case of ______ supply.
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 ______.
When the price increases by 50% and the supply increases only by 5% the price elasticity of supply of that commodity will be ______.
If the price elsaticity of supply is 1 and the percentage change in price is 10, then the percentage change in quatity supplied should be ______.
Which of the following measures of price elasticity shows inelastic supply?
When is the supply of a commodity is called elastic?
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
When there is no change in price, but quality supplied changes, it implies a situation of ______.
Draw and briefly explain a perfectly elastic supply curve.
How is elasticity of supply measured according to percentage method?
Indicate the degree of elasticity on the supply curve given below:
What is meant by elasticity of supply?
Why does the measure of pnce elasticity of supply of a good carry plus sign?
What do you mean by perfectly inelastic supply?
Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?
