When the price of a commodity falls from Rs. 10 per unit to Rs. 9 per unit , its quantity supplied falls by 20 percent . Calculate its price elesticity of supply.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Percent change in price `=(-1)/(10)xx100=-10%`
Percent change in supply =-20%
`E_(s) =(“Percentage change in supply”)/(“Percentage change in price”)=(-20)/(-10)=2`