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Market Supply Curve

Price elastic...

Question

Price elasticity of supply for a commodity is 5. When price of the commodity rises from Rs. 9 per unit to Rs. 10 per unit, supply rises by 25 units. Calculate quantity supplied at Rs. 9 per unit.

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Solution

5 _ _.

$\begin{matrix} 5 Q = 225 Q = 45 Units \end{matrix}}$

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