Answer:
about 0.39 (inelastic)
Step-by-step explanation:
Elasticity of supply is the ratio of percentage supply change to a corresponding percentage of price change. Here, that is ...
eos = (410/380 -1)/(0.20) = 0.78947/0.2 ≈ 0.3947
Values below 1 are said to correspond to an inelastic supply, one not very sensitive to price.
