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The quantity supplied of a commodity at a price₹8 per unit is 400 units. Its price elasticity of supply is 2 calculate the price at which its quantity supplied will be 600 units

Posted by Parul Jain 6 years, 2 months ago

CBSE > Class 11 > Economics

1 answers

Khushboo Giri 6 years, 2 months ago

ed=2 P=8. Q=400. P'=x. Q'=600 ^P=x-8. ^Q=600-400 =200 ed=^Q/^P × P/Q 2=200/x-8 ×8/400 2(x-8)=40 x-8=20 x=12 Therefore, P'=12.

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