Economics (AS & A Level) · Oct / Nov 2024 · Paper 13 · Question 8
9708Price elasticity of supply
The supply, S, of a product is determined by the equation S = 10 + 10P, when P is the price of the product. What is the price elasticity of supply when the price changes from $1 to $2?
- A0
- B0.5
- C1.0
- D2.0
As printed in the paper
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Correct answer: B. 0.5
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