Use the Following Data for a Supply Curve to Calculate

question 95

Essay

Use the following data for a supply curve to calculate the elasticity of supply. $$\begin{array} { | c | c | } \hline \text { Price } & \text { Quantiiy } \\\hline 1 & 25 \\\hline 2 & 35 \\\hline 3 & 45 \\\hline 4 & 55 \\\hline 5 & 65 \\\hline 6 & 75 \\\hline 7 & 85 \\\hline 8 & 95 \\\hline\end{array}$$ (A) Use the michant farmula to calculate the elasticity of supply far the parce betwren 팽 $\$ 7$ .
(B) Use the michaint farmula ta calculate the elasticity of supply far the price between 1 and 2. U5e the miकgaint farmula.

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Definitions:

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