The ratio of elasticity of supply …
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The ratio of elasticity of supply of a commodity A and B is is 1:1.5 .
20 percentage Fall in the price of A results in a 40 percentage fall in its supply .
Calculate percentage increase supply of B if its price Rises from rupees 10 per unit to rupees 11 per unit ( ans. 30% )
Posted by Akansha Jain 5 years, 8 months ago
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Sia ? 5 years, 8 months ago
Price elasticity of supply (PES) measures the responsiveness of quantity supplied to a change in price. It is necessary for a firm to know how quickly, and effectively, it can respond to changing market conditions, especially to price changes.
ESAESB=11.5...(i)
ESA =% Change in Qs of A% Change in Price of A
ESA=4020= 2 Put in eq. (i)
2ESB=11.5
2×1.5 = ESB
3.0 = ESB
ESB=% Change in Qs of B% Change in Price of B
% Change in QSof B=(11−10)10×100 = 10%
3=% Change in Qs of B% Change in Price of B
3=% Change in Qs of B10
30 = % Change in QS of B.
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