.a. Define elasticity of supply and find the price from the given statement:
If Es of a good is 2 and a firm supplies 200 units at price of Rs 8 per unit, then at what price will the firm supply 250 units.
.b. Calculate the elasticity of supply if a 15 %increase in the price of soya bean oil increases its supply from 300 to 345 units
"p_2=8.9"
"E_d=\\frac{\\frac{345}{300}}{1.15}=1"
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