Elasticity of Supply
Economics ⇒ Consumer and Producer Behaviour
Elasticity of Supply starts at 11 and continues till grade 12.
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A 15% increase in price leads to a 15% increase in quantity supplied. What is the elasticity of supply?
A 20% increase in price leads to a 10% increase in quantity supplied. What is the elasticity of supply?
Define elasticity of supply.
Explain how the availability of spare production capacity affects elasticity of supply.
Explain the difference between perfectly elastic and perfectly inelastic supply.
Explain the impact of time on the elasticity of supply with an example.
Explain the relationship between elasticity of supply and the slope of the supply curve.
Explain why manufactured goods tend to have a more elastic supply than agricultural goods.
Explain why the supply of a perishable good is less elastic than that of a durable good.
If a 10% increase in price leads to a 20% increase in quantity supplied, what is the elasticity of supply?
If the price of a good falls by 8% and the quantity supplied falls by 4%, what is the price elasticity of supply?
If the price of a good increases by 25% and the quantity supplied increases by 50%, what is the price elasticity of supply?
If the price of a good increases by 5% and the quantity supplied increases by 2%, what is the price elasticity of supply?
State one factor that can make the supply of a product more elastic.
State one reason why agricultural products often have inelastic supply.
State the effect of government regulations on the elasticity of supply.
What does a unitary elastic supply mean?
What is the main difference between short-run and long-run elasticity of supply?
