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Is the supply of jeans elastic inelastic or unit elastic

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Reference no: EM131611834

Question: The table sets out the supply schedule of jeans.

Price (dollars per pair)              Quantity supplied
                                     (millions of pairs per year)

       120                                  24

       125                                  28

       130                                  32

       135                                  36

a. Calculate the elasticity of supply when the price rises from $125 to $135 a pair.

b. Calculate the elasticity of supply when the average price is $125 a pair.

c. Is the supply of jeans elastic, inelastic, or unit elastic?

Reference no: EM131611834

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