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Question
Pick the option which does not belong to the group.
Options
Price of a commodity
Cost of Inputs
Income of the consumer
Level of technology
Solution
Income of the consumer
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RELATED QUESTIONS
Explain briefly the impact of the cost of production on the elasticity of supply.
Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.
Identify the elasticity of supply (es) of S1, S2 and S3 supply curves:
Which of the following statements are true?
The cost of production will increase if
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- The firm uses obsolete technology
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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 ______.
Elasticity of supply is measured by:
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.
Which of the following measures of price elasticity shows inelastic supply?
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
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 ______.
The price of a commodity rises from ₹ 20 to ₹ 40 Consequently, its supply increases from 100 units to 400 units. Calculate price elasticity of supply.
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.
Define price elasticity of supply.
Indicate the degree of elasticity on the supply curve given below:
Draw a straight line supply curve of the following situation.
More than unitary elastic
Draw relatively inelastic supply.
Draw relatively elastic supply.
