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The supply for good rises to 850 uni...

The supply for good rises to 850 units in response to rise in price by ₹1. If the original supply was 600 units at the prices of ₹ 4, calulate price elasticity of supply .

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Price Elasticity of Supply `(E_(s)) = (DeltaQ)/(DeltaP) xx (P)/(Q) = (250)/(1) xx (4)/(600)= 1.67`
`E_(s) = 1.67`
(Supply is highly as `E_(s) gt 1`)
`E_(s)` is always positive due to direct realationship between price and quantity supplied
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SANDEEP GARG-SUPPLY -UNSOLVED PARCTICALS
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