- TeX source:
- \begin{aligned}
\% \text { change in quantity } &=\frac{13,000-10,000}{(13,000+10,000) / 2} \times 100 \\
&=\frac{3,000}{11,500} \times 100 \\
&=26.1 \\
\% \text { change in price } &=\frac{\$ 700- \$ 650}{(\$ 700+\$ 650) / 2} \times 100 \\
&=\frac{50}{675} \times 100 \\
&=7.4 \\
\text { Price Elasticity of Supply } &=\frac{26.1 \%}{7.4 \%} \\
&=3.53
\end{aligned}