Question

In response to an increase in price from $5 per kilo to $6 per kilo a chicken farmer increased supply from 400 kilos to 500 kilos per week. What is the price elasticity of supply? A 0.8 B 0.9 C 1.2 D 1.25 ​

please show me the working for this question!

Answer 1

Answer:

d is the right answer

Explanation:

Fertilizers play an important role for soil health: they supplement the natural supply of soil nutrients, build up soil fertility in order to satisfy the demand of crops with a high yield potential and compensate for the nutrients taken by harvested products or lost by unavoidable leakages to the environment, in order ...

Answer 2

Answer:

0.8

Explanation:

Formula

$\frac{(Q_{2} -Q_{1} )/Q_{1} }{(Y_{2} -Y_{1} )/Y_{1} }$

Q1 = Original quantity

Q2 = New quantity

Y1 = Original income

Y2 = New income

SOLUTION

$\frac{(6-5)/5}{(500-400)/400}$

$\frac{0.2}{0.25}$

0.8

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