If 10% increase in the price of scooters increases supply of scooter by 20% the supply of scooters will be
Perfectly Elastic
Elastic (more than unit)
Inelastic
Perfectly Inelastic
In case _______ the supply is inelastic.
Of decreasing marginal cost
Of increasing marginal cost
Of marginal cost remaining constant
The law of increasing return is in operation
When supply curve is horizontal Es =
Zero
1
∞
Es > 1
Slope of supply curve is given by the formula
