Multiple Choice
Suppose when the price of shoe laces goes from $1 to $2 per pair,production increases from 95 million pairs to 105 million pairs per year.Using the mid-point method,the price elasticity of supply is:
A) 6.28
B) 66 percent
C) 10.5 percent
D) 0.15
Correct Answer:
Verified
Correct Answer:
Verified
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