CUET Economics - If price of a commodity rises from Rs. 10 to Rs. 15, its supply increases by 20%. calculate the price elasticity of supply for this commodity. | PYQs + Solutions

CUET Economics 2025 15 May Shift 1

Micro

Easy

0.4

0.5

1.25

2.5

✅ Correct Option: 1

Related questions:

29 May Shift 2

Arrange the following statements in chronological sequence about how government intervention in the form of price control has an impact on the market.

(A) There will be an excess demand for sugar in the market at that price.

(B) Government-imposed upper limit on the price of sugar.

(D) It could end up creating a shortage of sugar in the market.

Choose the correct answer from the options given below:

28 May Shift 2

Arrange the statements to define the relationship between elasticity and expenditure of a commodity.

(A) The percentage increase in quantity demanded is greater than the percentage decline in the price.

(B) The impact on expenditure depends on how responsive the demand for the good is to the price change.

(D) Expenditure on the goods will increase.

Choose the correct answer from the options given below:

28 May Shift 2

In the determination of a particular variable, the assumption of "ceteris paribus" stands for.

CUET Economics 2025 15 May Shift 1 PYQs

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