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Suppose the Price of University Sweatshirts Increases from $10 to $20

Question 16

Multiple Choice

Suppose the price of university sweatshirts increases from $10 to $20 and the quantity supplied increases from 20 to 30. The price elasticity of supply, using the midpoint formula, is:


A) 0.66.
B) 1.50.
C) 0.60.
D) 1.66.

Correct Answer:

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