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Given the following Supply Schedule of Commodity X Solve and graph for the price elasticity of Supply. State the coefficient whether it is Elastic; Inelastic
Given the following Supply Schedule of Commodity X Solve and graph for the price elasticity of Supply. State the coefficient whether it is Elastic; Inelastic and Unitary. 1 Original Qty. demanded = 10,000 kilos Orignal Price = P50.00/kilo New Quantity demanded = 18,000 kilos New Price = P70.00/kilo 2 Original Qty. demanded 1,000 kilos Orignal Price = P5.00/kilo New Quantity demanded = 1,100 kilos New Price = P6.00/kilo 3 Original Qty. demanded 10,000 kilos Orignal Price = P5.00/kilo New Quantity demanded = 12,000 kilos New Price P6.00/kilo
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