If the price elasticity of supply of a good is 2,a 200 percent increase in the price of the good will change the quantity supplied by ________.

Question

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The price elasticity of supply is calculated as the percentage change in quantity supplied divided by the percentage change in price. With an elasticity of 2, a 200 percent increase in price would lead to a 400 percent increase in quantity supplied (2 * 200% = 400%).

If the Price Elasticity of Supply of a Good Is