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At a Price of $4, Quantity Supplied Is 100, and at a Price

Question 27

Multiple Choice

At a price of $4, quantity supplied is 100, and at a price of $6, quantity supplied is 120. Using the midpoint formula, the price elasticity of supply is ________ and supply is ________.


A) 0.1; inelastic
B) 0.45; inelastic
C) 2.2; elastic
D) 10; elastic

Correct Answer:

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