3.Mang Juan have decided to reduced the price per kilo of onions from Php 100.00/kilo to the usual Php 140.00/kilo due to abundant harvest and difficulty in marketing the commodity because of the Covid 19 pandemic. The supply reach originally at 1,800 kilos to 1,500 kilos. Compute for the price elasticity of supply, determine the type of elasticity and plot the graph of price elasticity.
3.Mang Juan have decided to reduced the price per kilo of onions from Php 100.00/kilo to the usual Php 140.00/kilo due to abundant harvest and difficulty in marketing the commodity because of the Covid 19 pandemic. The supply reach originally at 1,800 kilos to 1,500 kilos. Compute for the price elasticity of supply, determine the type of elasticity and plot the graph of price elasticity.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 5CQQ: An increase in the supply of a good will decrease the total revenue producers receive if a. the...
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