A seller increased the quantity he offered for sale from 200 units to 250 units
ECONOMICS
WAEC 2020
A seller increased the quantity he offered for sale from 200 units to 250 units when the price of his product increased by 12.5%. What is the price elasticity of the supply of his product?
- A. 2.00
- B. 1.50
- C. 1.00
- D. 0.50
Correct Answer: A. 2.00
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