When a change in the quantity supplied is proportional to the change in the price the product is said to have?

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When change in the quantity supplied is proportionate to the change in the price, the producer is said to have ______:a)Perfectly elastic supplyb)Relatively elastic supplyc)Unitary elastic supplyd)Perfectly inelastic supplyCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2022 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about When change in the quantity supplied is proportionate to the change in the price, the producer is said to have ______:a)Perfectly elastic supplyb)Relatively elastic supplyc)Unitary elastic supplyd)Perfectly inelastic supplyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2022 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When change in the quantity supplied is proportionate to the change in the price, the producer is said to have ______:a)Perfectly elastic supplyb)Relatively elastic supplyc)Unitary elastic supplyd)Perfectly inelastic supplyCorrect answer is option 'C'. Can you explain this answer?.

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When change in the quantity supplied is proportional to the change in the price the product is said to have?

Answer: 'Perfectly elastic supply' is the correct option!

When the proportional change in quantity supply is greater than proportional change in price it is known as?

Elastic demand or supply curves indicate that the quantity demanded or supplied responds to price changes in a greater than proportional manner. An inelastic demand or supply curve is one where a given percentage change in price will cause a smaller percentage change in quantity demanded or supplied.

When a proportionate change in quantity demanded of a commodity and a proportionate change in price relates to *?

If change in the demand of the commodity is proportionate to the change in price, the demand of the commodity is known as unit elasticity. Here, the ratio of the change in demand and the change in price is one.

When a given proportionate change in price results an equally proportionate change in quantity demanded it is known as?

According to the types of elasticity of demand, when the change in the quantity demanded is exactly proportionate to the change in the price, the elasticity of demand will be equal to one.

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