At Price of $1

question 71

Multiple Choice

At price of $1.30 per pound,a local apple orchard is willing to supply 150 pounds of apples per day.At a price of $1.50 per pound,the orchard is willing to supply 170 pounds of apples per day.Using the midpoint method,the price elasticity of supply is about

• A)1.14.
• B)1.00.
• C)0.875.
• D)0.50.

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