Economics · May / June 2023 · Paper 11 · Question 6
2281Price elasticity of supply (PES)
What is the correct formula to calculate price elasticity of supply?
- Athe percentage change in price divided by the change in quantity supplied
- Bthe percentage change in price divided by the percentage change in quantity supplied
- Cthe percentage change in quantity supplied divided by the change in price
- Dthe percentage change in quantity supplied divided by the percentage change in price
As printed in the paper
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Correct answer: D. the percentage change in quantity supplied divided by the percentage change in price
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