Question

given that e s is 3 and the producer supplied 200 units at a price rupees 4 per unit price falls to rupees 3 per unit how much quantity will producer now supply.​

Answer 1

ΔP= -1

ΔQ= 20

Q1=200

P1=4

P2=3

Es= 3

ΔQ/ΔP * P/Q =3

ΔQ/-1 * 4/200 = 3

ΔQ= -600/4

ΔQ=-150 units

Q2= 200 -150 = 50 units