History, asked by LumpySpacePrincess, 4 months ago

find the price elasticity and the type of elasticity (A.P.)

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Answered by sakshisn

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The price elasticity of supply = % change in quantity supplied / % change in price. When calculating the price elasticity of supply, economists determine whether the quantity supplied of a good is elastic or inelastic. PES > 1: Supply is elastic. PES < 1: Supply is inelastic.

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