In the graph, which supply curve is elastic (eₛ > 1)? Three straight supply curves: S₁ starts at the origin; S₂ starts on the price axis at ₹4; S₃ starts on the quantity axis at 20 units.

In the graph, which supply curve is… — CUET Economics practice

In the graph, which supply curve is elastic (eₛ > 1)?

Question 50

HardOriginal question

In the graph, which supply curve is elastic (eₛ > 1)?

Three straight supply curves: S₁ starts at the origin; S₂ starts on the price axis at ₹4; S₃ starts on the quantity axis at 20 units.

S₃, which meets the quantity axisCorrect answerYour answerS₂, which meets the price axisCorrect answerYour answerS₁, which passes through the originCorrect answerYour answerAll threeCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer B

Correct answer: B

A straight supply curve that cuts the price axis has eₛ > 1 at every point.
One that cuts the quantity axis has eₛ < 1; through the origin, eₛ = 1.

Concept: Reading elasticity of supply from the intercept
Typical timeTypical: 100 s
Your timeYours: —

The rule this testsPrice elasticity of supply

Practise this chapter →

Ten questions from Perfect Competition & Supply, at your own pace.

Practise this chapter →

Ten questions from Perfect Competition & Supply, at your own pace.

In the graph, which supply curve is elastic (eₛ > 1)?

Question 50

Explanation