Multiple Choice
Suppose when the price of novels goes from $15 to $20 per book,production increases from 760 million books to 840 million books per year.Using the mid-point method,the price elasticity of supply is:
A) 0.77
B) 28.5 percent
C) 37 percent
D) 0.35
Correct Answer:
Verified
Correct Answer:
Verified
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