Concept:Price elasticity of supply measures how quantity supplied responds to a change in price.It is found by dividing the percentage change in quantity supplied by the percentage change in price.Explanation:Price changes from 24 to 16.So, percentage change in price =2416−24×100=−33.33%.Quantity supplied changes from 480 kg to 400 kg.So, percentage change in quantity supplied =480400−480×100=−16.67%.Elasticity of supply =−33.33%−16.67%=0.5.Elasticity is expressed as a positive value.Answer:The elasticity of supply for maize is 0.5.Correct option: B.