Multiple Choice
A bakery would be willing to supply 500 bagels per day at a price of $0.50 each.At a price of $0.80,the bakery would be willing to supply 1,100 bagels.Using the midpoint method,the price elasticity of supply for bagels is
A) 0.62.
B) 0.77.
C) 1.24.
D) 1.63.
Correct Answer:
Verified
Correct Answer:
Verified
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