Tag: economics
Questions Related to economics
If the quantity supplied exactly equal to the relative change in price than the elasticity of supply is?
If the percentage change in supply is less then the percentage change in price it is called.
If the price of apples rises from $Rs. 30$ per kg to $Rs. 40$ per kg and the supply increases from $240\ kg$ to $300\ kg$, Elasticity of supply is _________.
If the price of bananas rises from $Rs. 10$ per dozen to $Rs. 15$ per dozen and the supply increases from $100$ dozens to $125$ dozens. Elasticity of supply is ______________.
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 __________.