If the price of hamburger increases from $1.50/lb. to $2.00/lb. and the amount that you produce...

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If the price of hamburger increases from $1.50/lb. to $2.00/lb. and the amount that you produce...

If the price of hamburger increases from $1.50/lb. to $2.00/lb. and the amount that you produce monthly increases from 30 lbs. to 50 lbs., what is your price elasticity of supply? Is your price elasticity of supply elastic or inelastic?

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Answer 1

Answer #1

Sinces price elasticity of Supply (PES) is SPES I Percentage change in quantity Supply percentage charge in price IPES = 2 an

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Answer 2

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If the price of hamburger increases from $1.50/lb. to $2.00/lb. and the amount that you produce...

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12. If the price decreases from $10 to $8 and the quantity demanded increases from 50...

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If the price of hamburger increases from $1.50/lb. to $2.00/lb. and the amount that you produce...

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If the price of hamburger increases from $1.50/lb. to $2.00/lb. and the amount that you produce...