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

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The chairman of Yangzhou Coal Mining reported that the recession had decreased the demand for coal, with its sales falling by 119 percent to 7.92 million tons from 8.99 million tons a year earlier, despite a 10.6 percent cut in the price.
Source: Dow Jones, April 2Z 2009
Calculate the price elasticity of supply of coal. Is the supply of coal elastic or inelastic?
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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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