The value of elasticity of supply ranges from
One to infinity
Zero to infinity
Minus infinity to plus infinity
Zero to minus infinity
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
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 price of substitutes and costs of production rises, it leads to :
Contraction in supply
Decrease in supply
Expansion in supply
Increase in supply
The supply in the long period is
Inelastic
Elastic
Perfectly Inelastic
Perfectly Elastic
If price of substitute goods fall, then it will lead to
No change in supply
Constant
Supply of agricultural produce depends upon
Natural Causes
Taxation Policy
Technological Development
Price of other goods
When supply curve is horizontal Es =
Zero
3
∞
Es > 1
