Question

when prices rises by one rupee the quantity supplied by the producer rises from 80 units to 100 units price elasticity of supply is 2 calculate the price before change​

Answer 1

ΔP= 1

ΔQ= 20

Q1=80

Q2=100

Es= 2

ΔQ/ΔP * P/Q =2

20/1 * P/80 = 2

P= 160/20

P= 8 Rs.