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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.

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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