Holding All Other Factors Constant and Using the Midpoint Method,if

question 369

Multiple Choice

Holding all other factors constant and using the midpoint method,if a calculator manufacturer increases production from 40 to 50 units when price increases by 20 percent,then supply is

• A) inelastic, since the price elasticity of supply is equal to .91.
• B) inelastic, since the price elasticity of supply is equal to 1.1.
• C) elastic, since the price elasticity of supply is equal to 0.91.
• D) elastic, since the price elasticity of supply is equal to 1.1.

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