If the price of an item changes by 8% and quantity supplied changes from 600
ECONOMICS
JAMB 2009
If the price of an item changes by 8% and quantity supplied changes from 600 units to 660 units, the price elasticity of supply is
- A. 0.80
- B. 1.25
- C. 2.00
- D. 10.00
Correct Answer: B. 1.25
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