If the price of an item changes by 8% and quantity supplied changes from 600…

Economics JAMB 2009

If the price of an item changes by 8% and quantity supplied changes from 600 units to 660 units, the price elasticity of supply is

  • 0.80
  • 1.25 checkmark
  • 2.00
  • 10.00

The correct answer is: B

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