State the factors which influence elasticity of supply. - Vidyadip

Question

State the factors which influence elasticity of supply.

✓

Answer

self

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "4 Marks Question" from MICROECONOMICS CH : 11 THEORY OF SUPPLY→MICROECONOMICS CH : 11 THEORY OF SUPPLY — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Calculate $Q_1$ from the following data:

Income (in ₹)	800	1000	1200	1400	1600	1800
No. of Persons	16	24	26	30	20	5

State the concepts of increase and decrease in supply with the help of figures.

Discuss merits and demerits of Lorenz curve.

A consumer purchased $10$ units of a commodity when its price was $₹5$ per unit. He purchased $12$ units of the commodity when its price falls to $₹4$ per unit. What is the price elasticity of demand for the commodity at that price?

According to Mashallian utility analysis, when expenditure of a consumer has been completely adjusted, that is, when marginal utility in each direction of his purchases is the same, it is called consumer's equilibrium. Then he has no desire to buy any more of one commodity and less of another. Given a set of market prices, his wants and his income, the consumer may be said to be in equilibrium when marginal utilities have been equalized and maximum satisfaction obtained. There will then be no inducement to revise his scheme of expenditure.
1. By spending his entire income only on two goods X and Y, a consumer finds that $\frac{ MU _{ X }}{ P _{ X }}<\frac{ MU _{ Y }}{ P _{ Y }}$. Explain how will the consumer react.

Define marginal opportunity cost along a PPC.

Find Karl Pearson’s correlation coefficient if:$\text{N}=50,\Sigma\text{x}=75,\Sigma\text{Y}=80,\Sigma\text{X}^2=130,$
$\Sigma\text{Y}^2=140\ \text{and }\Sigma\text{xy}=128.$

Mention merits and demerits of Mean. And list out any three examples of scope of averages in your class room.

Explain the concepts of
i. Marginal Rate of Substitution (MRS),
ii. Budget line, with the help of numerical examples.

Explain the central problem of 'what to produce'.