A firm's elasticity of supply is 0.5. At the original market price of $10, the quantity supplied by the firm is 500 units. The market price then rises to $11.
What will be the firm's revenue after the price rise in price by calculating? Explain your answer and show your calculation.
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Home » Business » A firm's elasticity of supply is 0.5. At the original market price of $10, the quantity supplied by the firm is 500 units. The market price then rises to $11.