If a price increase of 50% results in an increase in the quantity supplied of an economic good from 10 to 30 pieces, calculate the coefficient of price elasticity of supply.
If a price increase of 50% results in an increase in the quantity supplied of an economic good from 10 to 30 pieces, calculate the coefficient of price elasticity of supply.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 11SQ
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If a price increase of 50% results in an increase in the quantity supplied of an economic good from 10 to 30 pieces, calculate the coefficient of price elasticity of supply.
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