1.2.5 Elasticity of supply

Question 5

Table 1: Price elasticity of supply for lithium carbonate in selected mining regions

Mining Region	Price elasticity of supply
Salar de Atacama (Chile)	+0.25
Western Australia (Australia)	+1.25

In Western Australia, the price elasticity of supply for lithium carbonate is +1.25.

Which one of the following is the percentage increase in price if the quantity of lithium carbonate supplied in Western Australia increases by 15%?

$0.08$

$12.00$

$18.75$

$60.00$

1.2.5 Elasticity of supply

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Question 5

Table 1: Price elasticity of supply for lithium carbonate in selected mining regions

Mining Region	Price elasticity of supply
Salar de Atacama (Chile)	+0.25
Western Australia (Australia)	+1.25

In Western Australia, the price elasticity of supply for lithium carbonate is +1.25.

Which one of the following is the percentage increase in price if the quantity of lithium carbonate supplied in Western Australia increases by 15%?

$0.08$

$12.00$

$18.75$

$60.00$

1.2.5 Elasticity of supply

Question 5

Table 1: Price elasticity of supply for lithium carbonate in selected mining regions

1.2.5 Elasticity of supply Questions

1.2.5 Elasticity of supply

Question 5

Table 1: Price elasticity of supply for lithium carbonate in selected mining regions

1.2.5 Elasticity of supply Questions