Suppose When the Price of Jean-Jackets Increased by 10 Percent

question 165

Multiple Choice

Suppose when the price of jean-jackets increased by 10 percent, the quantity supplied increased by 16 percent.Based on this information the price elasticity of supply of jean-jackets is

• A)0.625.
• B)6%.
• C)1.6.
• D)1.6%.

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