When price of commodity is Rs.4/unit, a producer supplies 8 units/day. If price rises to Rs.5/unit, he is willing to supply 10 units/day. Calculate pr

Question

When price of commodity is Rs.4/unit, a producer supplies 8 units/day. If price rises to Rs.5/unit, he is willing to supply 10 units/day. Calculate pr

When price of commodity is Rs.4/unit, a producer supplies 8 units/day. If price rises to Rs.5/unit, he is willing to supply 10 units/day. Calculate price elasticity of supply.

Monjur Alahi

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2025-01-04 04:42

1 Answers

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Salim Ahmed Kawsar · Accepted Answer · 2023-02-05T15:29:48+06:00

Salim Ahmed Kawsar

`{:(" P 4"),(" P"_(1)" 5,"),(ulbar(DeltaP" 1")):}" "{:("Q 8"),(Q_(1)" 10"),(ulbar(DeltaQ" 2")):}" "P.e_(S)=(P)/(Q)xx(DeltaQ)/(DeltaP)=(4)/(8)xx(2)/(1)=1`
Ans. `P.e_(S)=1`

5 views Answered 2023-02-05 15:29