Multiple Choice Questions on Identify the correct pair of items from the following Columns I and II Column I 1 Perfectly ela........... for Common University Entrance Test (CUET) Preparation

Back to Main Page

Multiple Choice Questions

Identify the correct pair of items from the following Columns I and II Column I 1 Perfectly ela...........

Introductory Microeconomics Theory of firm under perfect Competition
    Download Solution PDF

    Identify the correct pair of items from the following Columns I and II:

    Column I:

    1. Perfectly elastic supply 2. Perfectly inelastic supply 3. Unitary elastic supply 4. Relatively elastic supply

    Column II:

    (a) Es > 1 (b) Es < 1 (c) Es = 1 (d) Es = 0

     

    1 - (a)

     

    Incorrect Answer

    2- (b)


     

    Incorrect Answer

    3-(c)

    Correct Answer

    4- (d)

    Incorrect Answer
    Explanation:

    Option (3) is correct.
    Explanation: In case of unitary elastic supply, percentage change in quantity supplied is equal to percentage change in price. Hence, elasticity of supply is equal to one.

     

    Let's Discuss

    What our students have to say
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free

    Search on abhipedia