If the price elasticity of supply is 0.25,then a 10% increase in price will result in a 2.5% increase in quantity supplied.

Name: If the price elasticity of supply is 0.25,then a 10% increase in price will result in a 2.5% increase in quantity supplied.
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The price elasticity of supply measures how much the quantity supplied of a good responds to a change in the price of that good. With an elasticity of 0.25, a 10% increase in price leads to a 2.5% increase in quantity supplied (0.25 * 10% = 2.5%).

If the Price Elasticity of Supply Is 0