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Price of a commdity decreases by ₹5 p...

Price of a commdity decreases by ₹5 per unit and due to this, supply decreases form 100 units to 50 units. Determine price elasity of supply , if original price was ₹15, per units.

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Price Elasticity of Supply `(E_(s)) = (DeltaQ)/(DeltaP) xx (P)/(Q) = (50)/(5) xx (10)/(50)= 2`
`E_(s) = 1.5` (Supply is highly elastic as `E_(s) gt 1`)
`E_(s)` is always positive due to direct relationship between price and quantity supplied.
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SANDEEP GARG-SUPPLY -UNSOLVED PARCTICALS
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