Multiple Choice
The number of tonnes of wheat sold rises from 100 million to 200 million tonnes due to an increase in the price of wheat from $500 to $700 per tonne.The numerical value of the price elasticity of supply is therefore:
A) 0.25
B) 1.25
C) 3.5
D) 2.0
E) 2.5
Correct Answer:
Verified
Correct Answer:
Verified
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