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The total revenue of a firm …

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The total revenue of a firm is rs.5000 at rs.50. When the price of this product rises by 50%, the firn sells 200 units. Calculate the price elasticity of supply.

Posted by Bishal Deka 6 years, 9 months ago

CBSE > Class 12 > Economics

1 answers

Dishant Sehgal 6 years, 9 months ago

(%) increase in price = 50 Q (total revenue /price of sold)=100 Q1 = 200 (%)increase in quantity {Q1-Q/Q}=200-100/100. =1 Ed = 1/50 = 0.02

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