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Question-1
When supply curve is vertical, Es =
(A)
1
(B)
Zero
(C)
∞
(D)
Es > 1
Question-2
The value of elasticity of supply ranges from
(A)
One to infinity
(B)
Zero to infinity
(C)
Minus infinity to plus infinity
(D)
Zero to minus infinity
Question-3
Increase in supply due to causes other than change in price is termed as ________ supply.
(A)
Decrease in
(B)
Increase in
(C)
Extension of
(D)
Contraction of
Question-4
Elasticity of supply is given by the formula
(A)
(B)
(C)
(D)
Question-5
In case _______ the supply is inelastic.
(A)
Of decreasing marginal cost
(B)
Of increasing marginal cost
(C)
Of marginal cost remaining constant
(D)
The law of increasing return is in operation
Question-6
Supply curve presents
(A)
Price of the commodity
(B)
Supply of the commodity
(C)
Relationship between price and supply of the commodity
(D)
Demand of the commodity
Question-7
When supply curve is horizontal Es =
(A)
Zero
(B)
1
(C)
∞
(D)
Es > 1
Question-8
If price of substitute goods fall, then it will lead to
(A)
Decrease in supply
(B)
Increase in supply
(C)
No change in supply
(D)
Constant
Question-9
The supply in the long period is
(A)
Inelastic
(B)
Elastic
(C)
Perfectly Inelastic
(D)
Perfectly Elastic
Question-10
Change in supply due to increase in price is termed ________ supply.
(A)
Contraction of
(B)
Extension of
(C)
Increase in
(D)
Decrease in
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Plus 2 Commerce
Kerala (English Medium)
Practice in Related Chapters
INTRODUCTION TO MICROECONOMICS - THEORY
CONSUMER BEHAVIOUR AND DEMAND
THEORY OF CONSUMER BEHAVIOUR
INTRODUCTION TO MACRO ECONOMICS
Money and Banking
The Theory of Consumer Behaviour (Micro)
Market Equilibrium Under Perfect Competition (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Introduction to Micro Economics
Production Function-Returns to a Factor(Micro)
Supply and Elasticity of Supply (Micro)
Cost, Revenue and Producer's Equilibrium(Micro)
Forms of Market (Micro)
The Theory of the firm Under Perfect Competition
Aggreggate Demand and Aggregate Supply
National Income Accounting and Circular flow of Income (Macro)
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