Answer:
b.is the percentage change in quantity supplied divided by the percentage change in price.
Step-by-step explanation:
Price elasticity of supply measures the degree of responsiveness of quantity demanded to price. It is a ratio of the percentage change in quantity supplied to percentage change in price.
Elasticity of supply can be elastic meaning an increase in price results in increase in demand.
It can also be inelastic meaning increase in price does not lead to a reasonable increase in supply.