Economics 9708 · AS & A Level · Price elasticity of supply

Price elasticity of supply — practice question

The supply (S) of a product is given by the equation S = 10 + 10P, where P represents the product’s price in $. What is the product’s price elasticity of supply when the price increases from $1 to $2?

A0.5
B1.0
C2.0
D5.0

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