Multiple Choice
When the Gizmo Company could sell a gizmo for $10, it produced 2,500 per month. More recently, the price of a gizmo has fallen to $9 and so Gizmo is only producing 2,000 units per month. What is the price elasticity of supply for gizmos?
A) 0.47
B) -0.47
C) -2.11
D) 2.11
Correct Answer:
Verified
Correct Answer:
Verified
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