Price elasticity of supply is

percentage change in quantity supplied ÷ percentage change in priceCorrect answerYour answerpercentage change in price ÷ percentage change in quantity suppliedCorrect answerYour answerchange in quantity supplied ÷ change in demandCorrect answerYour answerprice × quantity suppliedCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

eₛ = (ΔQ ÷ Q) ÷ (ΔP ÷ P). It is positive, since price and quantity supplied move together.

Concept: Elasticity of supply
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsPrice elasticity of supply

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Price elasticity of supply is

Explanation