Multiple Choice
Suppose tennis shoes cost $50 per pair and firms supply 50,000 pairs of shoes. If the price decreases to $45 and firms decide to supply 48,000, the elasticity of supply equals
A) 0.0025.
B) 0.04.
C) 2.63.
D) 0.39.
Correct Answer:
Verified
Correct Answer:
Verified
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