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Question
Why is the supply of eggs inelastic?
Solution
Because eggs cannot be stored. They have to be sold out whatever is the price.
RELATED QUESTIONS
Explain briefly the impact of the cost of production on the elasticity of supply.
What is the formula for percentage method of calculating price elasticity of supply?
Explain any three factors affecting elasticity of supply.
A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.
Which of the following measures of price elasticity shows elasticity shows elastic 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.
Choose the correct term for the given definition.
The ratio between the percentage change in supply to a percentage change in price.
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 ______.
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.
When is the supply of a commodity is called elastic?
Draw a straight line supply showing elasticity greater than one.
With the help of a formula calculate the elasticity of supply from the following table:
| Price | Quantity supplied |
| 10 | 200 |
| 15 | 225 |
Cotton and cotton seeds are examples of ______ supply.
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.
Draw and briefly explain a perfectly elastic supply curve.
Explain any four determinants of elasticity of supply.
How is elasticity of supply measured according to percentage method?
Give the meaning of perfectly elastic supply.
Define price elasticity of supply.
Draw the supply curve showing price elasticity of supply equal to 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?
What do you mean by perfectly inelastic supply?
Draw relatively inelastic supply.
