Suppose When the Price of Coffee Beans Goes from $1

question 41

Multiple Choice

Suppose when the price of coffee beans goes from $1 to $1.20 per pound,production increases from 90 million pounds of coffee beans to 110 million pounds per year.Using the mid-point method,the percentage change in quantity supplied is:

• A) 20 percent
• B) 18 percent
• C) 0.6
• D) 6.0

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