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Calculate the own price elasticity of supply for the following statements: 1.When the price of the good falls from $2.25 to $1.75, quantity supplied falls
Calculate the own price elasticity of supply for the following statements:
1.When the price of the good falls from $2.25 to $1.75, quantity supplied falls from 600 to400 units. Round to 2 decimal places
2.When the price of the good falls from $2.25 to $1.75, quantity supplied falls from 600units to 500 units.
3.When the price of the good falls from $2.25 to $1.65, quantity supplied remains unchanged
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