CameraIcon

SearchIcon

MyQuestionIcon

1

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

Price Elasticity of Supply

What happens ...

Question

What happens when the value of price elasticity of supply is less than 1?

Open in App

Solution

At values of less than 1 for price elasticity of supply, the supply is said to be inelastic.

Also read:

Price Elasticity of Supply

Income Elasticity of Demand Formula

Elasticity of Demand

Price Elasticity of Demand Formula

Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.

Suggest Corrections

thumbs-up

0

Similar questions

what happens to equilibrium price and quanity when demand is prefectly elastic and supply changes

Q. A firm supplies certain quantity of a good at a price of 10 per unit. when price changes to 9 per unit , the firm supplies 10 unit less. Price elasticity of supply is 1. what is the quantity supplied before change?

Q. When price of a commodity falls from Rs 12 per unit to Rs 9 per unit ,the producer supplies 75 percent less output. Calculate price elasticity of supply.

Q. If the quantity supplied exactly equal to the relative change in price than the elasticity of supply is?

Q. Elasticity of supply is greater than one when.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Elasticity of Supply

ECONOMICS

Watch in App

explore_more_icon

Explore more

Price Elasticity of Supply

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon