Suppose That When Price of a Good Is $1

question 53

Multiple Choice

Suppose that when price of a good is $1.50,quantity supplied is 15.When price is $2.50,quantity supplied is 25.According to the midpoint formula,the price elasticity of supply is:

• A)0.4.
• B)0.8.
• C)1.
• D)1.5.
• E)2.

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