When price of substitutes and costs of production rises, it leads to :
Contraction in supply
Decrease in supply
Expansion in supply
Increase in supply
If price of substitute goods fall, then it will lead to
No change in supply
Constant
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
The value of elasticity of supply ranges from
One to infinity
Zero to infinity
Minus infinity to plus infinity
Zero to minus infinity
Supply curve presents
Price of the commodity
Supply of the commodity
Relationship between price and supply of the commodity
Demand of the commodity
Supply means
Quantity of goods produced
Stocks of goods produced
Quantity of goods available for sale
Total of produced and imported goods
Elasticity of supply is given by the formula
ΔP/ΔQ . Q/P
ΔQ/ΔP . P/Q
ΔQ/ΔP . Q/P
ΔQ/ΔP
The supply in the long period is
Inelastic
Elastic
Perfectly Inelastic
Perfectly Elastic
In _______ the supply is inelastic.
Short Period
Long Period
Initial Stage
Final Stage
