Question
A firm sells 40 units of commodity X when its price is
10. At what price it will sell 60 units of the commodity if its price elasticity of supply is 0.8.ÂSolution
es = (delta Q* P)/ (delta P*Q) 0.8 = 20*10/(P2-20) *40 P2 = 16.25
- Choose the option which best expresses the meaning of the idiom/phrase in bold in the sentence.
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enlarge upon or add detail to something
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Give one the slip      Â
