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a 15 percent rise in the …

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a 15 percent rise in the price of a commodity rasies its supply from 300 unit to 345 units calculate its price elasticity of demand
  • 2 answers

Abhishek Thakur 6 years, 10 months ago

According to question %∆P=15 Q=300 Q1= 345 So, that %∆Qs = ∆Q/Q × 100 = 45/300 ×100 = 15 Es = %∆Qs/%∆P = 15/15 = 1 ( Unitary elastic)

Gaurav Seth 6 years, 10 months ago

A 15% rise in the price of a commodity raises its supply from 300 units to 345 units. Calculate its Price Elasticity of Supply.

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