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Refer to the Graph Above

question 14

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  Refer to the graph above.Over the $5-$6 range,the elasticity of supply using the midpoints formula is: A)  0.22. B)  0.88. C)  1.00. D)  1.22. The change in quantity is (50 - 40) /(50 + 40) = 0.111 and the change in price is (6 - 5) /(6 + 5) = 0.091.Thus elasticity is 0.111/0.091 = 1.22. Refer to the graph above.Over the $5-$6 range,the elasticity of supply using the midpoints formula is:

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