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When the price of a commodity changes from Rs.4 per units to Rs.5 per unit, its market supply rises from 100 units to 120 units.

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When the price of a commodity changes from Rs.4 per units to Rs.5 per unit, its market supply rises from 100 units to 120 units. Calculate the price elasticity of supply. Is supply elastic ? Give reason
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No, the supply is not elastic. It is inelastic because price elasticity of supply is less than one.

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