Math, asked by Trinika6248, 11 months ago

Will the supply at a point on a positive sloped straight line

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Answered by vidhi20oct

0

A positively sloped supply curve can be in 2 cases .

Highly elastic or less elastic

Highly elastic supply refers to a situation where percentage change in qty. supplied is more than percentage change in price .

Less elastic supply refers to a situation where percentage change in qty. supplied is less than percentage change in price for a commodity .

In both the cases the supply is upward sloping and positive .

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