Multiple Choice
A manufacturer produces 410 units when the market price is $8 per unit and produces 470 units when the market price is $10 per unit. Using the midpoint method, for this range of prices, the price elasticity of supply is about
A) 1.63.
B) 0.14.
C) 0.61.
D) 0.22.
Correct Answer:
Verified
Correct Answer:
Verified
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