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When price of a good rises from Rs. 10 t...

When price of a good rises from Rs. 10 to Rs. 12 per uint, the producer supplies `10%` more. Calculate price elasticity of supply.

Text Solution

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`P.e_(S)=(%DeltaQ_(x))/(%DeltaP_(x))`
`{:(" P 10"),(" P"_(1)" 12"),(ulbar(DeltaP-3)):}" "%DeltaP=(DeltaP)/(P)xx100=(2)/(10)xx100=20%`
`P.e_(s)=(10%)/(20%)=(1)/(2)=0.5" Ans."P.e_(S)=0.5`
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