Suppose When the Price of Jean Jackets Increased by 10

question 66

Multiple Choice

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

• A) 0.625 per cent
• B) 6% per cent
• C) 1.6 per cent

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