CUET Preparation Today
Assertion: When the supply curve is vertical, the elasticity of supply is undefined. Reasoning: When the supply curve is vertical, supply is completely insensitive to price. |
Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A. Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. Assertion (A) is true but Reasoning (R) is not correct. Assertion (A) is not true but Reasoning (R) is correct. |
Assertion (A) is not true but Reasoning (R) is correct. |
The correct answer is Option 4: Assertion (A) is not true but Reasoning (R) is correct. Assertion:When the supply curve is vertical, the elasticity of supply is undefined.This assertion is incorrect. When the supply curve is vertical, the elasticity of supply is zero, not undefined. Reasoning: When the supply curve is vertical, supply is completely insensitive to price. This reasoning is correct. A vertical supply curve means that the quantity supplied remains constant regardless of changes in price. This indicates perfectly inelastic supply. |
