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find out price elasticity of supply when 20% change in price of the commodity results change in supply 40%.​

User Sevon
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Answer:the price elasticity of supply in this scenario is 2.

Explanation:

Price Elasticity of Supply = (% Change in Quantity Supplied) / (% Change in Price)

In this case, we are given that there is a 20% change in price, resulting in a 40% change in supply. Let's plug these values into the formula:

Price Elasticity of Supply = (40% / 20%) = 2

Therefore, the price elasticity of supply in this scenario is 2.

User Sisimh
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