A. 2.00
B. 1.50
C. 1.00
D. 0.50
Correct Answer:
Option A = 2.00
Explanation
The price elasticity of supply = % change in quantity supplied / % change in price
% change in quantity supplied = 250 – 200 = 50
50/200 x 100 = 25
Therefore, price elasticity of supply = 25/12.5 = 2
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…