Paolo Owns a Pizza Shop

question 57

Multiple Choice

Paolo owns a pizza shop. The price of pizza recently increased from $3 to $5 a slice. Paolo responded by increasing the quantity of slices he supplied from 100 to 150 slices per day. By the midpoint method, Paolo's price elasticity of supply is:

• A) 1.25.
• B) 0.8.
• C) 0.75.
• D) 2.5.

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Definitions:

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Paralegal

A legal professional who assists attorneys in the delivery of legal services, often involved in case research, document preparation, and other support tasks.