If quantity supplied increases by 60 due to a 50 increase in price then elasticity of supply is...........

Introductory Microeconomics Consumer Behavious and Demand

If quantity supplied increases by 60% due to a 50% increase in price, then elasticity of supply is:

(-)1.2

(+) 1.2

(-) 0.83

(+) 0.83

Option (2) is correct.
Explanation: Es Percentage change in quantity supplied/Percentage change in price = 1.2

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