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Consumers, Consumption and Satisfaction

Which of the ...

Question

Which of the following curves shows that the elasticity of supply is equal to one?

A

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B

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C

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D

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Solution

The correct option is A

The supply of a commodity is said to be unit elastic when the percentage change in supply is equal to the percentage change in price. However, steep or flat the straight line supply curve passing through the origin, the elasticity of supply is equal to one.

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Similar questions

Q. Write True or False with a reason.
At a point of intersection of two supply curves, flatter curve shows higher elasticity of supply.

Q. Write True or False with a reason.
If a straight line upward sloping supply curve shoots from the origin, elasticity of supply is always equal to one.

Q. A vertical supply curve parallel to Y axis implies that the elasticity of supply is?

Q. A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is?

Q. (i) Indicate the degree of elasticity on the supply curves given below.
(ii) Explain three determinants of Elasticity of Supply.

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