A manufacturer of specialised lithium-ion battery packs has calculated that the price elasticity of supply (PES) for its battery cells is +1.25. If a global surge in electric vehicle production causes the market price of these cells to rise by 16%, which one of the following is the resulting percentage change in the quantity supplied?
2.0%2.0\%2.0%
12.8%12.8\%12.8%
20.0%20.0\%20.0%
7.8%7.8\%7.8%
22 exam-style questions on Edexcel A A Level Economics 1.2.5 Elasticity of supply. Each one has a worked solution and a mark scheme showing where the marks go.