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NARA [144]
3 years ago
11

Suppose the price elasticity of supply for gasoline in the short run is estimated to be 0.4. Due to an unexpected surge in the d

emand for gasoline, the price of gasoline increases by 20 percent. As a result, the quantity supplied of gasoline will|?
Physics
1 answer:
netineya [11]3 years ago
5 0

Answer:

increase by 8 percent

Explanation:

<em>Price elasticity of supply of a product is the degree of responsiveness of supply of that product to a change in price.</em> Simply put:

Price Elasticity of supply = change in quantity supply/ change in price.

In this case, price elasticity of supply of gasoline = 0.4

Percentage price increase = 20 percent.

Hence,

           0.4 = change in supply/20

           Change in supply = 20 x 0.4 = 8 percent

<em>Therefore, the quantity supply of gasoline will increase by 8 percent</em>

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The distance in meters she would have moved before she begins to slow down is 11.25 m

<h3>LINEAR MOTION</h3>

A straight line movement is known as linear motion

Given that Ann is driving down a street at 15 m/s. Suddenly a child runs into the street. It takes Ann 0.75 seconds to react and apply the brakes.

To know how many meters will she have moved before she begins to slow down, we need to first list all the given parameters.

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