• 2022-06-07
    The price of eggs in a small town yesterday is ¥30 per dozen, and its quantity supplied is 8 dozens. But the price rise to ¥50 per dozen, and the quantity supplied is also rise to 12 dozens per day. Please calculate the elasticity of supply about eggs in the town.
  • (12-8)/ [1/2(12+8)] =0.4 (50-30) /[1/2(50+30)]= 0.50.4/0.5=0.8

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