When the price of a commodity rises by 10 percent its supply rises by 40units.

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asked Jan 9, 2019 in Class 12 by kratos

When the price of a commodity rises by 10 percent its supply rises by 40units. Its elasticity of supply is 1. Calculate its supply at the original price.

class-12
supply and elasticity of supply
cbse

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1 Answer

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answered Feb 10, 2021 by kratos

Best answer

Given, ΔP = 10, QS = 40, eS = 1

When the price of a commodity rises by 10 percent its supply rises by 40units.

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