EconomicsTheory of supplyJAMB
Price rises from ₦50 to ₦60 and quantity supplied rises from 100 to 130 units. The price elasticity of supply is
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Answer: B. 1.5
%ΔQ = 30%, %ΔP = 20%; 30/20 = 1.5.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.