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23-02-2022
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If the price of cocoa rises by 20%, the quantity supplied of cocoa rises by 4%. What is the elasticity of supply

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ewomazinoade ewomazinoade

08-03-2022

the elasticity of supply of cocoa given the percentage change in quantity supplied and price is 0.2.

What is the the elasticity of supply of cocoa?

The the elasticity of supply measures the relationship between price and quantity supplied. It is expected that the relationship between price and quantity supplied is positive.

The elasticity of supply = percentage change in quantity supplied / percentage change in price

4% / 20% = 0.2

To learn more about supply elasticity, please check: https://brainly.com/question/26634801

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