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1.2.5 Elasticity of supply

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Question 8

Table 1: Price elasticity of supply for housing in selected UK regions

UK RegionPrice elasticity of supply
London+0.4
East Midlands+1.6

In the East Midlands, the price elasticity of supply for housing is +1.6.

Which one of the following is the percentage increase in price if the quantity of housing supplied in the East Midlands increases by 8%?

0.20

2.00

5.00

12.80

1.2.5 Elasticity of supply Questions

  1. A Level
  2. /Economics
  3. /1.2.5 Elasticity of supply