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प्रश्न
When price of a product increases by 30% its quantity supplied rises by 15%. What is the elasticity of supply of the commodity?
संख्यात्मक
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उत्तर
% Change in Quantity Supplied = 15% (rises)
% Change in Price = 30% (increase)
Es = `("% Change in Quantity Supplied")/("% Change in Price")`
= `(15%)/(30%)`
= `1/2`
= 0.5
The price elasticity of supply is 0.5.
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