The supply function of good X is given by the equation
${Q_S} = 10{P_X}$
where ${P_X}$ is the price of the good and ${Q_S}$ is the quantity supplied.
What can be deduced from the equation about the elasticity of supply of good X?
1 )
It is equal to 0.0.
2 )
It is equal to 0.1.
It is equal to 1.0.
4 )
It is equal to 10.0.
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