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The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsThe theory of the firm under perfect competition1 Mark
Question
If the quantity supplied is exactly equal to the relative change in price then the elasticity of supply is
  1. Less than one.
  2. Greater than one.
  3. One.
  4. None of them.
✓

Answer

  1. One.

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