b) The table below shows the price of good Z and quantity supplied for good Z. Quantity supplied Price of for good Z (RM) Good
b) The table below shows the price of good Z and quantity supplied for good Z. Quantity supplied Price of for good Z (RM) Good Z (units) 60 750 65 800 70 850 75 900 i) Calculate the price elasticity of supply for good Z when price of good Z rises from RM60.00 to RM75.00. Is the supply elastic or inelastic? (2 marks) ii) State two (2) factors that influence the price elasticity of supply. (2 marks)
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