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If a straight line upward sloping supply curve shoots from the Y-axis, elasticity of supply < 1.

+1 vote

asked Mar 1, 2019 in Class 12 by kratos

Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:

If a straight line upward sloping supply curve shoots from the Y-axis, elasticity of supply < 1.

class-12
producer behaviour and supply

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1 Answer

+1 vote

answered Jul 24, 2020 by kratos

Best answer

No. When a straight line upward sloping supply curve shoots from the Y-axis, Es>1.

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