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What is the price elasticity of supply

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1. Bagani is selling oranges at 25.00 dollars for the 5,000 units available for sale. She then increased her price to 35.00 dollars and had 8,000 units available for sale. What is the price elasticity of supply?

(Note: The answer is not 1.38)

2. Given the demand schedule below, what is the elasticity of demand for good x?

Price: 180 Quantity Demanded: 42

Price: 225 Quantity Demanded: 36

(Note: The answer is not 0.69)

3. What is the elasticity of demand for good y?

Price: 635 Quantity Demanded: 80

Price: 350 Quantity Demanded: 100

(Note: The answer is not 0.38)

Reference no: EM133077549

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