Adam, a hairstylist at a salon in seattle, styles his customers in various ways. his work looks different on different people ev
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Answer:
0.99
Explanation:
Elasticity is an economic metric that looks into the proportional change of an economic variable in response to a change in another. Therefore, elasticity of supply refers to the ratio of the proportionate change in the quantity supplied to the proportionate change in price. A higher value of elasticity implies supply sensitivity to price changes. The converse is also true.
Given,
Equilibrium price, =2.50[/tex]
Equilibrium quantity, =25.0[/tex]
At price 10.75=
Quantity supplied of pancakes, =105.0
Elasticity of supply of pancakes,
=
The elasticity of supply for pancake is 0.99