Suppose That an Increase in the Price of Carrots from $1.50

question 162

Multiple Choice

Suppose that an increase in the price of carrots from $1.50 to $1.70 per kilogram raises the amount of carrots that carrot farmers produce from 1.2 million kilograms to 1.6 million kilograms.Using the midpoint method,what would be the elasticity of supply

• A)0.50
• B)0.54
• C)1.86
• D)2.28

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