Economics 0455 · IGCSE · Price elasticity of supply (PES)

Price elasticity of supply (PES) — practice question

A product has a price elasticity of supply of $+2$. A change in price causes the quantity supplied to rise from $100$ units to $120$ units. What change in price occurred?

  • Aa fall of $10\%$
  • Ba fall of $40\%$
  • Ca rise of $10\%$
  • Da rise of $40\%$

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