Compute the value of price elasticity of supply. If the percentage in quantity supply is 75% and percentage change in price is 55%.​

Price elasticity of supply = 1.36%

Explanation:

Given the following data;

percentage in quantity supply = 75%  

percentage change in price = 55%.

To find the the value of price elasticity of supply;

A price elasticity of supply (PES) can be defined as a measure of the responsiveness of the quantity of a product supplied with respect to a change in price of the product, all things being equal.

Mathematically, the price elasticity of supply is given by the formula;

Substituting into the formula, we have;

Price elasticity of supply = 1.36%

Therefore, the degree of elasticity is said to be elastic because the price elasticity of supply (PES) is greater than 1.

answer; i believe the correct answer is (4.0);

answer; by looking at total product,marginal product,and changes in both after changes in inputs