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  5. \(\begin{array}{c|c}...

\(\begin{array}{c|c} Price (N) & 20 & 16 \\ \hline \text{Quantity demanded} & 100 & 58...

Economics
JAMB 2016
\(\begin{array}{c|c}
Price (N) & 20 & 16 \\
\hline
\text{Quantity demanded} & 100 & 58
\end{array}\)

From the table above, the elasticity of supply is_____?
  • A. Inelastic supply
  • B. Perfectly elastic
  • C. Elastic supply
  • D. Unitary elastic
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Correct Answer: Option C
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