Economics · May / June 2024 · Paper 12 · Question 8
2281Price elasticity of supply (PES)
In response to an increase in price from $5 per kg to $6 per kg, a farmer increased supply from 400 kg to 500 kg per week. What is the price elasticity of supply?
- A0.8
- B0.9
- C1.2
- D1.25
As printed in the paper
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Correct answer: D. 1.25
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