question archive If the percentage change in price equals 2% and the percentage change in quantity supplied equals 5%, the value of the price elasticity of supply will equal: a

If the percentage change in price equals 2% and the percentage change in quantity supplied equals 5%, the value of the price elasticity of supply will equal: a

Subject:EconomicsPrice:2.88 Bought3

If the percentage change in price equals 2% and the percentage change in quantity supplied equals 5%, the value of the price elasticity of supply will equal:

a. -.25.

b. 25.

c. 2.5.

d. .4.

e. .33.

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If the percentage change in price equals 2% and the percentage change in quantity supplied equals 5%, the value of the price elasticity of supply will equal c. 2.5.

Price elasticity of supply = Percentage change in quantity supplied ÷÷ Percentage change in price

Price elasticity of supply = 5%2%=2.5

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