Solved

An Increase in the Price of Pure Chocolate Morsels from $3.25

Question 141

Multiple Choice

An increase in the price of pure chocolate morsels from $3.25 to $3.45 causes Nestle to increase production from 125 bags per minute to 145 bags per minute.What do we know about the elasticity of supply


A) It is 0.40 and supply is elastic.
B) It is 2.48 and supply is elastic.
C) It is 0.40 and supply is inelastic.
D) It is 2.48 and supply is inelastic.

Correct Answer:

verifed

Verified

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

Related Questions

Q93: The midpoint method is used to calculate

Q136: Suppose the price of Twinkle snack cakes

Q137: The local Greek restaurant makes such great

Q138: What does a flatter demand curve represent<br>A)greater

Q139: A linear demand curve has constant elasticity,but

Q140: When demand is inelastic,what will a decrease

Q143: Moving up a linear demand curve,what happens

Q145: Figure 5-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 5-1

Q146: When is demand said to be inelastic<br>A)when

Q157: Supply tends to be more elastic in