If an increase of 9 percent in the price of frozen pizzas results in a 8 percent increase in the quantity of frozen pizzas supplied, the price elasticity of supply for frozen pizzas is.

Price elasticity of supply for frozen pizzas is 0.888

Increase in price percentage = 9%

Increase in demand percentage = 8%

Price elasticity of supply for frozen pizzas

Price elasticity of supply for frozen pizzas = Increase in demand percentage / Increase in price percentage

Price elasticity of supply for frozen pizzas = 8% / 9%

Price elasticity of supply for frozen pizzas = 0.888

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0,888

Explanation:

Price elasticity of supply is a term used to describe a result in the market caused by a change in the quantity offered of a product related to a change in the price of that product.

To calculate the price elasticity of the offer, we use the following formula:

Price elasticity of supply = % change in quantity supplied / % change in price.

We can apply this formula to the question above, as follows:

Price elasticity of supply = 8 / 9 = 0.8888

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