A product has a price elasticity of supply coefficient of 1.2. If the price decreases by 8%, what is the expected percentage change in quantity supplied?

Related content
Practice quizzes
Practice this subjectPractice this unitPractice this topic
Study guides (1)
Key terms
Price Elasticity of SupplyCoefficientPercentage Change in Quantity Supplied
Fiveable
About Us
About FiveableBlogCareersTestimonialsCode of ConductTerms of UsePrivacy PolicyCCPA Privacy Policy
Resources
Cram ModeAP Score CalculatorsStudy GuidesPractice QuizzesGlossaryCrisis Text LineRequest a Feature
Stay Connected
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
About Us
About FiveableBlogCareersTestimonialsCode of ConductTerms of UsePrivacy PolicyCCPA Privacy Policy
Resources
Cram ModeAP Score CalculatorsStudy GuidesPractice QuizzesGlossaryCrisis Text LineRequest a Feature
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
Back
Practice QuizGlossary
GuidesGlossary
Next