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प्रश्न
When price of a good rises from Rs 10 to Rs 12 per unit the producer supplies 10 percent more. Calculate price elasticity of supply.
उत्तर
Given that
P0= Rs 12, P1 = Rs 9
Percentage change in quantity supplied =(-)75%
Change in price (ΔP)=P1- P0
= 9-12
= (-3)
Percentage change in price = `(DeltaP)/P_0xx100`
`=((-3))/12xx100=-25%`
`"Price elasticity of supply" (E_s)="Percentage change in quantity supplied"/"Percentage change in price"`
`=((-)75%)/((-)25%)=3`
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