ICSE Class X Economics 2019 Solved Papers
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Define and draw the following :
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Question : 38
Total: 40
Relatively elastic supply.
Solution:
Relatively Elastic Supply : A relative elasticity of supply is expressed with a flat but not horizontal curve which starts from Y-axis. It is always greater than one ( e s > 1 ) . It means the percentage change in quantity is greater than the percentage change in price. In the supply curve SS, a small difference in price can bring a significant shift in supply.
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