Multiple Choice
Suppose that in a month the price of a liter of soda increases from $1 to $1.50. At the same time, the quantity of liters of soda supplied increases from 200 to 210. The price elasticity of supply for liters of soda (calculated using the initial value formula) is
A) negative.
B) inelastic.
C) unit elastic.
D) elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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