Question

12) Due to 10% rise in the price of a commodity, its quantity
supplied rises from 400 units to 450 units. Calculate its
price elasticity of supply. Is its supply elastic ?​

Answer 1

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Answer 2

1.25 , yes , GQ

% change in quantity supplied

= (450-400)/400 = 12.5%

% change in price = 10%

price elasticity of supply = 12.5%/10%

= 1.25

1.25 > 1 , yes ,the supply is elastic .

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