Suppose the supply of pocket calculators is given by 6= Q^S - P. Determine the price elasticity of supply when the price is 3 and the quantity supplied is 4.
Suppose the supply of pocket calculators is given by 6= Q^S - P. Determine the price elasticity of supply when the price is 3 and the quantity supplied is 4.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 18SQ
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Im having trouble calculating price elasticity when it doesn’t clearly show the change in the percentage. And I have to use the derivative method:
Please explain using this example and show steps so I can try to follow.
-Suppose the supply of pocket calculators is given by 6= Q^S - P.
Determine the price elasticity of supply when the price is 3 and the quantity supplied is 4.
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