Solved

Refer to the Figure Above

Question 9

Multiple Choice

Refer to the figure above.What is the price elasticity of supply between points A and B above? A) -1 B) 1/3 C) 1 D) 2 The change in quantity is (12 - 6) /(12 + 6) = 0.33 and the change in price is (4 - 2) /(4 + 2) = 0.33.Thus,the elasticity is 0.33/0.33 = 1.0. Refer to the figure above.What is the price elasticity of supply between points A and B above?


A) -1
B) 1/3
C) 1
D) 2
The change in quantity is (12 - 6) /(12 + 6) = 0.33 and the change in price is (4 - 2) /(4 + 2) = 0.33.Thus,the elasticity is 0.33/0.33 = 1.0.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q4: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4893/.jpg" alt=" Refer to the

Q5: Which would be the best item to

Q6: The price elasticity of demand increases with

Q8: If the cross-price-elasticity of goods X and

Q10: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4893/.jpg" alt=" Consider the above

Q11: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4893/.jpg" alt=" Consider the demand

Q13: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4893/.jpg" alt=" Refer to the

Q14: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4893/.jpg" alt=" Refer to the

Q46: Movie theaters charge lower prices to see

Q352: If a product has a short-run elasticity