If the price of an item changes by 8% and quantity supplied changes from 600 units to 660 units; the price elasticity of supply is?

By: |Published on: Oct 23|Categories: Economics JAMB| 0 comments

A. 0.80
B. 1.25
C. 2.00
D. 10.00

Correct Answer:

Option B – 1.25

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