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If the price of an item changes by 8% and quantity supplied changes from 600...

Economics
JAMB 2009
If the price of an item changes by 8% and quantity supplied changes from 600 units to 660 units, the price elasticity of supply is
  • A. 0.80
  • B. 1.25
  • C. 2.00
  • D. 10.00
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Correct Answer: Option B
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