If the price elasticity of supply for a product is 2, a price increase from $1.00 to $1.20 will cause the quantity supplied to:

The price elasticity of supply measures how much the quantity supplied of a good responds to a change in the price of that good. It is calculated as the percentage change in quantity supplied divided by the percentage change in price.

Here's how you can calculate the change in quantity supplied:

1. First, calculate the percentage change in price. The price increased from $1.00 to$1.20, which is a 20% increase.

2. Then, multiply the price elasticity of supply (which is 2 in this case) by the percentage change in price.

3. 2 (price elasticity of supply) * 20% (percentage change in price) = 40%

So, if the price elasticity of supply for a product is 2, a price increase from $1.00 to$1.20 will cause the quantity supplied to increase by 40%.