Price Elasticity of Supply of a Good is 2. a Producer Supplies 100 Units of a Good at a Price of Rs 20 per Unit. at What Price Will He Supply 80 Units? - CBSE (Arts) Class 12 - Economics
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Price elasticity of supply of a good is 2. A producer supplies 100 units of a good at a price of Rs 20 per unit. At what price will he supply 80 units?
Actual Quantity (Q0)=100
Actual Price (P0)= Rs 20
New in Quantity (Q1)= 80
Change in Quantity Supplied (ΔQ)=Q1-Q0=80-100 = - 20
New in Price (P1) = ??
We know that
Hence, new price is Rs 18. The seller will supply 80 units at Rs 18 per unit
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Solution Price Elasticity of Supply of a Good is 2. a Producer Supplies 100 Units of a Good at a Price of Rs 20 per Unit. at What Price Will He Supply 80 Units? Concept: Concept of Supply.