Essay
Calculate the price elasticity of supply for the following goods.Also comment on the elasticity in each case.
a)When the price of a good is $100,200 units are supplied.But when the price increases to $300,220 units are supplied.
b)When the price of a good is $50,50 units are supplied.But when the price decreases to $30,10 units are supplied.
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a)Percentage change in price = 200 perce...View Answer
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Correct Answer:
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