Question
State the relationship between price and quantity supplied.
✓
Answer
This diagram shows the direct relationship / between price and quantity supplied of) chocolates. When its price is ? 10, 200 units ( are supplied and as price rises to 15, 20, 25 ? …. and so on, quantity supplied also rises to )
When the schedule is plotted on the graph we 250, 300, 350 and so on. This is the law of supply of an individual firm.
When the schedule is plotted on the graph we 250, 300, 350 and so on. This is the law of supply of an individual firm.
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| Price in Rs. | Quantity supplied in units |
| 10 | 200 |
| 15 | ……… |
| 20 | 300 |
| 25 | 350 |
| 30 | …….. |
| 35 | …….. |
| 40 | …….. |
1) Demand at point ‘C’ is relatively elastic demand.
2) Demand at point ‘B’ is unitaiy elastic demand.
3) Demand at point ‘D’ is perfectly inelastic demand.
4) Demand at point ‘A’ is perfectly elastic demand.
2) Demand at point ‘B’ is unitaiy elastic demand.
3) Demand at point ‘D’ is perfectly inelastic demand.
4) Demand at point ‘A’ is perfectly elastic demand.
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