The price of a good changes from 10 to 20 and quantity supplied changes from 100

Question

The price of a good changes from 10 to 20 and quantity supplied changes from 100 to 150. What is the elasticity of supply?

Options:

A . 0.25

B . 0.5

C . 1

D . 2

Answer: Option C
:
C
%change in price =

\frac{20 - 10}{10} \times 100 = 100 %

%change in quantity =

\frac{150 - 100}{100} \times 100 = 50 %

E l a s t i c i t y = \frac{50}{100} = 0.5

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