The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers...

Question

Question

The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers increases from 40 to 60. Price elas

Answer 1

Answer #1

Ans. - is . l Price elasticity of supply for bell peppers (60-40) (1.20 -1.00) $1 40 0.40 2.5 (A) 2.5 - . Price elasticity of

8. Ans. A) greater than 1

Since the supply will be elastic due to plenty of workers available, lots of retail space and wide availability of capital used in production.

9. Ans. B) more than 2

In the long run, the price elasticity of demand tends to become more elastic.

Answer 2

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