When the kg price of strawberry increases from 6 TL to 9 TL, if the quantity supplied increases from 2 kg to 3 kg, what is the price elasticity of the supply of strawberries?
When the kg price of strawberry increases from 6 TL to 9 TL, if the quantity supplied increases from 2 kg to 3 kg, what is the price elasticity of the supply of strawberries?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The elasticity of supply measures the degree of change in supply following change in price level.
There is positive relationship between quantity supplied and price level.
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