The following data relate to the supply schedule of a product.
|
Price
|
Quantity Supplied
|
|
$5
|
100
|
|
10
|
200
|
|
15
|
250
|
|
20
|
300
|
|
25
|
350
|
|
30
|
500
|
Using the regular percentage change formula, what is the price elasticity of supply when price decreases from $20 to $15?
0.20.450.671