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1.2.5 Elasticity of supply

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Question 11

Table 1: Price elasticity of supply for agricultural commodities in the UK

CommodityPrice elasticity of supply
Organic Avocados+0.4
Feed Barley+2.5

In the UK, the price elasticity of supply for feed barley is +2.5.

Which one of the following is the percentage increase in price if the quantity of feed barley supplied increases by 6%?

0.420.420.42

2.402.402.40

3.503.503.50

15.0015.0015.00

1.2.5 Elasticity of supply Questions

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