Multiple Choice
A cafeteria is willing to produce 100 cups of coffee when the price is $1 and 150 cups of coffee when the price is $1.30, other things being equal. The price elasticity of supply of coffee is
A) 1.53.
B) 0.67.
C) 0.10.
D) 0.50.
Correct Answer:
Verified
Correct Answer:
Verified
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