MyQuestionIcon

9

You visited us 9 times! Enjoying our articles? Unlock Full Access!

Types of Elasticity

At which valu...

Question

At which value price elasticity of supply is said to be elastic?

Open in App

Solution

Price elasticity of supply is said to be elastic when the value is 1.

Suggest Corrections

thumbs-up

1

Similar questions

Q. Give reasons or explain:

i. Supply is directly related to price.

ii. Stock can exceed supply.

iii. When price rises, supply expands.

iv. The supply of agricultural commodity is relatively inelastic.

v. With a slight change in the price, if supply varies in a greater proportion then supply is said to be relatively elastic.

Q. When the price of a commodity changes from Rs.

4

per unit to Rs.

5

unit, its market supply rises from

100

120

units. Calculate price elasticity of supply. Is supply elastic? Give reason.

Q. which of the following measures of price elasticity shows elastic supply
a. Zero
b. 0.5
c 1.5
d. 0.1

Is the price elasticity of supply positive or negative?

At what value is the supply perfectly elastic?

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Elasticity of Supply

ECONOMICS

Watch in App

explore_more_icon

Explore more

Types of Elasticity

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon