Multiple Choice
The quantity supplied of hot dogs is 200 at the unit price of $3.50. Suppose the price elasticity of supply by the initial value method is 2, and you would like to induce sellers to increase the quantity of hot dogs supplied to 220. Then new price must be
A) $1.5.
B) $2.
C) $2.5.
D) $3.
Correct Answer:
Verified
Correct Answer:
Verified
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