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An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?
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An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?
A. +2
B. +0.5
C. -2
D. -0.5
Correct Answer:
+0.5
✔
Last Updated:
June 18, 2019