The price of a commodity is ₹ 10 per unit. At this price quantity supplied is 500 units. Price elasticity of supply of the commodity is 1.25. At…
CA Foundation · Business Economics · PYQS · September 2024
The price of a commodity is ₹ 10 per unit. At this price quantity supplied is 500 units. Price elasticity of supply of the commodity is 1.25. At what price the quantity to be supplied would be 20% more ?
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. 11.60
Topics: Theory of Demand and Supply
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