Economics 2281 · O Level · Price elasticity of supply (PES)

Price elasticity of supply (PES) — practice question

A product has a price elasticity of supply of +2. As a result of a price change, the quantity supplied increases from 100 units to 120 units. What is the change in price?

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

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