Solved

At Price of $1

Question 6

Multiple Choice

At price of $1.20,a local pencil manufacturer is willing to supply 150 boxes per day.At a price of $1.40,the manufacturer is willing to supply 170 boxes per day.Using the midpoint method,the price elasticity of supply is about


A) 2.0.
B) 1.23.
C) 1.00.
D) 0.81.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q1: Generally,a firm is more willing and able

Q2: Scenario 5-3<br>Suppose that the supply of aged

Q3: Figure 5-18 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 5-18

Q4: A manufacturer produces 1,000 units,regardless of the

Q5: Figure 5-18 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 5-18

Q7: Figure 5-14 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 5-14

Q8: Suppose the price elasticity of supply for

Q9: If the price elasticity of supply is

Q10: At a price of $1.00,a local coffee

Q11: A key determinant of the price elasticity