Multiple Choice
At price of $1.25,a paper manufacturer is willing to supply 150 spiral notebooks per day.At a price of $1.50,the paper manufacturer is willing to supply 175 spiral notebooks per day.Using the midpoint method,the price elasticity of supply is about
A) 1.18.
B) 1.00.
C) 0.85.
D) 0.25.
Correct Answer:
Verified
Correct Answer:
Verified
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