Multiple Choice
On a certain supply curve, one point is (quantity supplied = 200, price = $2.00) and another point is (quantity supplied= 250, price = $2.50) . Using the midpoint method, the price elasticity of supply is about
A) 0.2.
B) 0.5.
C) 1.0.
D) 2.5.
Correct Answer:
Verified
Correct Answer:
Verified
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