The chairman of Yanzhou Coal Mining reported that the recession had decreased the demand for coal, with

Question:

The chairman of Yanzhou Coal Mining reported that the recession had decreased the demand for coal, with its sales falling by 11.9 per cent to 7.92 million tons from 8.99 million tons a year earlier, despite a 10.6 percent cut in the price.
Calculate the price elasticity of supply of coal. Is the supply of coal elastic or inelastic?