CBSE Class 12-commerce Answered
Explain the geometric method to measure the elasticity of
supply.
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
Expert Answer
Price elasticity of supply = Supply curve intercept on X-axis/ Quantity supplied at point on supply curve.
i. A positively sloped curve meets X axis when extended to the right of origin, es <1.
ii. When supply curve starts from origin, es =1.
iii. When the supply curve meets Y axis and on extension, it will meet negative side of X-axis, es >1.
Answered by | 25 Apr, 2016, 04:40: PM
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