If price of substitute goods fall, then it will lead to
Decrease in supply
Increase in supply
No change in supply
Constant
Slope of supply curve is given by the formula
ΔQ/ΔP
ΔP/ΔQ
P/Q
Q/P
Supply curve presents
Price of the commodity
Supply of the commodity
Relationship between price and supply of the commodity
Demand of the commodity
When supply curve is horizontal Es =
Zero
3
∞
Es > 1
Supply means
Quantity of goods produced
Stocks of goods produced
Quantity of goods available for sale
Total of produced and imported goods
The value of elasticity of supply ranges from
One to infinity
Zero to infinity
Minus infinity to plus infinity
Zero to minus infinity
Change in supply due to increase in price is termed ________ supply.
Contraction of
Extension of
Increase in
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
Supply of agricultural produce depends upon
Natural Causes
Taxation Policy
Technological Development
Price of other goods
