If the price of a good increases by 10 percent and the quantity supplied increases by...

If the price of a good increases by 10 percent and the quantity supplied increases by 5 percent, then the elasticity of supply is

Expert Solution

The elasticity of supply is less than 1 or equal to 0.5 that's why here the supply is inelastic.

Explanation in below solution:

Rahul Sunny answered 2 years ago

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