Answer
2.5
Work Step by Step
$E_s=\frac{\Delta qty\%}{\Delta price\%}=\frac{\frac{220-200}{200}\times100}{\frac{104-100}{100}\times100}=\frac{10}{4}=2.5$
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 5 - Elasticity: A Measure of Responsiveness - Exercises - 5.5 The Price Elasticity of Supply - Page 124: 5.1
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