The ratio of change in price `(DeltaP)` to original price (P) for a commodity is 0.6. If price elasticity of supply is 1.5 ,calculate the precentage change in supply .

Explanation

Precentage change in Price ` =(DeltaP)/(P) xx 100 = 0.6 xx 100 = 60%`
Price Elasticity of Supply `(E_(s))=("Perecentage Change in Supplied")/(" Perecntage Change in Price")`
`1.5 = ("Percentage Change in Supply")/(60%)`
Percentage change in supply = 90%