On a Certain Supply Curve, One Point Is (Quantity Supplied

question 478

Multiple Choice

On a certain supply curve, one point is (quantity supplied = 200, price = $2.00) and another point is (quantity supplied= 250, price = $2.50) . Using the midpoint method, the price elasticity of supply is about

• A) 0.2.
• B) 0.5.
• C) 1.0.
• D) 2.5.

---

Definitions:

Generation Z

The cohort of individuals born approximately between the mid-1990s to the early 2010s, known for their fluency in digital technologies and progressive social views.

Traditionalists

Individuals or groups who adhere to long-established customs, beliefs, or methods, often resisting change.

Baby Boomers

Individuals born approximately between 1946 and 1964, often associated with significant economic, political, and social changes in their lifetimes.

Generation X

The demographic cohort following the Baby Boomers and preceding Millennials, typically born between the early 1960s and late 1970s.