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 elesticit

Question

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 elesticit

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.

Monjur Alahi

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2025-01-04 04:42

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

Salim Ahmed Kawsar

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`

8 views Answered 2023-02-05 15:29