CameraIcon

SearchIcon

MyQuestionIcon

1

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

Types of Elasticity

when supply o...

Question

when supply of a good is called elastic

Open in App

Solution

Dear Student,

When supply of a good is highly responsive to a change in its price, then the supply of the good is said to be elastic.

Keep Posting!!

Suggest Corrections

thumbs-up

0

Similar questions

When is the supply of a commodity called 'elastic'?

Q. Elasticity of supply is measured by dividing the percentage change in quantity supplied of a good by __________.

Q. When price of a good falls from

R s . 20

R s . 10

per unit, producer reduces supply from

100

50

units. Calculate price elasticity of supply.

Q. When price of a good rises from

R s . 10

R s . 12

per unit, the producer supplies

10

per cent more. Calculate price elasticity of supply.

Q. Elasticity of supply refers to the degree of responsiveness of supply of a good to changes in its.

View More

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