If 5% increase in price result in a 3% increase in quality supplied, t – InterviewSolution

1.

If 5% increase in price result in a 3% increase in quality supplied, the elasticity of supply is _______. Options:(1) 1.20 (2)0.6 (3) 1.66 (4) 0.3

Answer»

3/100*5/100

0.03*0.05

1.20

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