Multiple Choice
If the price of DVDs falls from $20 to $12 and the quantity of DVDs supplied decreases from 118,000 to 100,000, using the midpoint formula the elasticity of supply equals
A) 0.33.
B) 2.94.
C) -3.08.
D) 3.08.
E) 0.23.
Correct Answer:
Verified
Correct Answer:
Verified
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