If price increases from 10 pence to 12 pence and the quantity supplied doubles, what is the price elasticity of supply?
A) + 0.2
B) + 5
C) + 2.5
D) - 2.5
Correct Answer:
Verified
Q5: The supply curve might shift inwards with
Q6: If the quantity supplied increases 20% when
Q7: If the price elasticity of supply is
Q8: If the price elasticity of supply is
Q9: If a 20% increase in price leads
Q11: Which of the following would not influence
Q12: A movement upwards along the supply curve
Q13: Which of the following would not cause
Q14: Which of the following would cause the
Q15: An increase in the number of producers
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