Question

I
JUULUIS Ultermining price elasticity of supply.
(See Sub-sec. 5.5.4)
NUMERICAL QUESTIONS
1. A seller sells 100 units of a commodity when its price per unit is 10. The supply goes up to
140 units as a result of increase in its price to 12 per unit. Calculate the price elasticity of supply.
(Ans. e = 2)
2. As a result of fall in the price of a commodity from 6 per unit to 35 per unit, the quantity
supplied falls by 25 per cent. Calculate its price elasticity of supply.
(Ans. e. = 1.5)
3. When the price of a commodity rises from 10 to 11 per unit, its quantity supplied rises by
100 units. Its price elasticity of supply is 2. Calculate the quantity supplied at the increased price.
(Ans. 600 units)
4. The quantity supplied of a commodity at a price 10 per unit is 1250. Its price elasticity is 1.
Calculate the price at which its quantity supplied will be 750.
(Ans. Price = 36)​

Answer 1

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