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Suppose That the Price of a Money Clip Increases from $0.75

Question 172

Multiple Choice

Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8000 units to units. Use the midpoint formula to calculate the price elasticity of supply. Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8000 units to units. Use the midpoint formula to calculate the price elasticity of supply. A) 1.22 B) 1.0 C) 0.82 D) 0.07


A) 1.22
B) 1.0
C) 0.82
D) 0.07

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