Multiple Choice
Suppose that when price of a good is $1.50,quantity supplied is 15.When price is $2.50,quantity supplied is 25.According to the midpoint formula,the price elasticity of supply is:
A) 0.4.
B) 0.8.
C) 1.
D) 1.5.
E) 2.
Correct Answer:
Verified
Correct Answer:
Verified
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