CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Determinants of Elasticity of Supply

Define or exp...

Question

Define or explain relatively elastic supply

Open in App

Solution

Relatively elastic supply is the type of elasticity where the percentage change in supply is more than the percentage change in price.
The value of elasticity here is more than 1.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Define elasticity of supply.

Q. __________ are relatively less elastic in supply.

Q. Define or explain the concept of 'unitary elastic demand'.

Q. Define or explain elasticity of demand.

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.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Elasticity of Supply

ECONOMICS

Watch in App

explore_more_icon

Explore more

Determinants of Elasticity of Supply

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon