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3 years ago

15

If price increases from $45 to $55, the market quantity supplied increases from 20 units per week to 30 units per week. The pric

e elasticity of supply is _____

1 answer:

hichkok12 [17]3 years ago

4 0

Answer:

The answer is 2.25

Explanation:

Price Elasticity of Supply (PES)= percentage change in Quantity demanded/ percentage change in price

PES= (30-20)/20 *100) /( 55-45)/45*100) = 50%/22.22% = 2.25

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