Price Elasticity of Supply Requires Quantity Data

Steps:

• Price elasticity of supply (PES) = (% change in quantity supplied) / (% change in price).
• Price rises from $2 to$4: % change in price = [(4-2)/ ((2+4)/2)] × 100% = 100% (using midpoint method).
• No quantity supplied data provided for initial or final values.
• Cannot compute % change in quantity without that information.

Why B is correct:

• Not applicable; question lacks essential data for any elasticity value.

Why the others are wrong:

• A: Assumes unrelated quantity change (e.g., 20%), but no basis.
• C: Assumes unit elastic supply (100% quantity change), unsupported.
• D: Assumes elastic supply (200% quantity change), unsupported.

Not enough information.

Final answer: Not enough information.