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The price elasticity of supply is0.9 ​, and price increases by10 percent. As a​ result, the quantity supplied will increase by

enter your response here percent. ​(Enter your response as a real number rounded to one decimal​ place, and do not use a percentage​ sign.)

Sagot :

When price increases by 10 percent, the quantity supplied increases by nine percent.

What is the percentage increase in the quantity supplied?

Price elasticity of supply measures the responsiveness of quantity supplied to changes in price of the good. Price and quantity supplied have a positive relationship.

If the value of the price elasticity of supply is less than one, it means that supply in inelastic. Supply is inelastic if a small change in price has little or no effect on quantity supplied.

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

percentage change in quantity supplied = percentage change in price X price elasticity of supply

0.9 x 10 = 9%

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

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