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The Figure Above Shows the Supply Curve for Roses

Question 22

Multiple Choice

The figure above shows the supply curve for roses. -Suppose an increase in supply lowers the price from $10 to $8 and increases the quantity demanded from 100 units to 130 units.Using the midpoint method,the elasticity of demand equals A) 1.17. B) 0.85. C) 0.26. D) 1.56. E) None of the above answers is correct.
The figure above shows the supply curve for roses.
-Suppose an increase in supply lowers the price from $10 to $8 and increases the quantity demanded from 100 units to 130 units.Using the midpoint method,the elasticity of demand equals


A) 1.17.
B) 0.85.
C) 0.26.
D) 1.56.
E) None of the above answers is correct.

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