Multiple Choice
Suppose that as the price of some product increases from $4.00 to $5.00 per unit the quantity supplied rises from 500 to 1000 units per month.The price elasticity of supply for this product is
A) 0.33.
B) 2.0.
C) 2.5.
D) 3.0.
E) 1.0.
Correct Answer:
Verified
Correct Answer:
Verified
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