Elasticity of supply is given by the formula
ΔP/ΔQ . Q/P
ΔQ/ΔP . P/Q
ΔQ/ΔP . Q/P
ΔQ/ΔP
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
The supply in the long period is
Elastic
Seller is generally not willing to sell commodities below:
Marginal Price
Average Price
Reserve Price
Neither of the above
Supply of agricultural produce depends upon
Natural Causes
Taxation Policy
Technological Development
Price of other goods
In _______ the supply is inelastic.
Short Period
Long Period
Initial Stage
Final Stage
Supply means
Quantity of goods produced
Stocks of goods produced
Quantity of goods available for sale
Total of produced and imported goods
Supply curve presents
Price of the commodity
Supply of the commodity
Relationship between price and supply of the commodity
Demand of the commodity
The value of elasticity of supply ranges from
One to infinity
Zero to infinity
Minus infinity to plus infinity
Zero to minus infinity
