Tag: supply - law of supply and price elasticity of supply
Questions Related to supply - law of supply and price elasticity of supply
When supply of a commodity remain same with change in price, this situation is called as _____________.
If supply of a commodity falls by $20$% due to decrease in price of the commodity by $10$%, then elasticity of supply will be _______.
Elasticity of supply for a positively sloping supply curve that starts from price axis is ______.
In case of perfectly elastic supply, the supply curve is _________.
If elasticity of supply becomes negative, supply curve is _________.
When supply curve is upward sloping and originates from the starting point, elasticity is __________.
The supply of durable goods is usually _____________.
If ${E} _{s}=0.6$, and the percentage change in price $=5$, then percentage change in quantity supplied is ______.
If 18% fall in price of the commodity causes 27% decrease in its supply, elasticity of supply will be _______.
Write True or False with a reason.
When a firm is using some rigid technology, its ${E} _{s}$ tends to be high.