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The price elasticity of supply of …

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The price elasticity of supply of commodity Y is half the price elasticity of supply of commodity x. 16% rise in price x results in 40 % rise in supply if the price of Y falls by 8% calculate the % fall in supply .

    • Posted by Priya Kumari 6 years, 10 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Abhishek Thakur 6 years, 10 months ago

    According to question Esy = 1/2 Esx Esx =%∆Qs/%∆P = 40/16= 2.5 Esy = 1/2 × Esx = 1/2 × 2.5=1.25 Esy = %∆Qs/%∆P 1.25 = %∆Qs/ -8 By cross multiplying %∆Qs = -10 Percentage fall in quantity supplied of good -Y= 10

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