Q = 5P+1
Elasticity of supply = (P/Q)*(dQ/dP)
= (P/(5P+1))*5
= 5P/(5P+1)
Elasticity= 5P/(5P+1)
So as Elasticity is less than 1,
Since 5P < (5P+1)
So it is in-elastic
This Qu Find an expression for the point elasticity of supply for the supply function below....
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