Suppose when the price of jean-jackets increased by 10 percent, the quantity supplied increased by 16 percent. Based on this information the price elasticity of supply of jean-jackets is

1.6

Explanation:

The formula and the computation of the price elasticity of supply is shown below:

Price elasticity of supply = (Percentage change in quantity supplied) : (percentage change in price)

where,

Percentage change in quantity supplied = 16%

And, the percentage change in price = 10%

So, the price elasticity of supply is

= 16% : 10%

= 1.6