If the price elasticity of supply is 0.8, and price increased by 5%, quantity supplied would a. increase by 6.25% b. decrease by 4% c. increase by 4% d. decrease by 6.25%

A good has a price elasticity of demand of 2.5  this tells us that;    A. none of the above   B. the price rises by 2.5% when quantity demanded falls by 1%   C. Quantity demanded decreases by 2.5% when the price rises by 1%   D. the price changes by $ 2.50 when quantity changes by 1 unit

The elasticity of supply is 0.44 The rise in price is 25% calculate the value of rise in quantity supplied

The price elasticity of demand for gasoline is estimated to be -0.25. If the current price of gasoline is $2.50, what will be the price if there is a shock that reduces quantity supplied by 5%. a. $3.50 b. $2.625 c. $2.75 d. $3