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Price Elasticity of Supply Calculations

The document contains information about the supply elasticity of three different products: 1) Instant noodles - When the price rose by P2, production doubled from 100 to 200 packs. 2) 14-inch TVs - When the price rose from P5,000 to P7,500, supply only increased by 5 units from 100 to 105. 3) Sardines - When the price rose from P10 to P12, production increased from 100 to 120 cans.

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5 views1 page

Price Elasticity of Supply Calculations

The document contains information about the supply elasticity of three different products: 1) Instant noodles - When the price rose by P2, production doubled from 100 to 200 packs. 2) 14-inch TVs - When the price rose from P5,000 to P7,500, supply only increased by 5 units from 100 to 105. 3) Sardines - When the price rose from P10 to P12, production increased from 100 to 120 cans.

Uploaded by

YdujEnnaFontanilla
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Group 3

Suppose the old price of instant noodles is P5 and a seller can produce 100 packs of
them. When the price rose by P2, the producer has doubled his production. How
elastic is his supply for noodles?

Given:

Q1- 100 P1- 5

Q2- 200 P2- 7

Group 2:

A 14-inch TV is originally sold at P5,000. At this price, an appliance store is able to sell
100 TVs in the market. The following month, the new price of TV is P7,500. However,
the store has only increased its output by 5 units. How elastic was the supply of the
store’s TV?

Given:

Q1- 105 P1- 7,500

Q2- 100 P2- 5,000

Group 3:

The old price of sardines is P10. At P10, a producer can supply 100 cans of them. When
selling price changes to P12, producer was able to increase its production to 120 units.
Solve for the price elasticity of supply.

Given:

Q1- 120 P1- 12

Q2- 100 P2- 10

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