Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8000 units to units. Use the midpoint formula to calculate the price elasticity of supply.
A) 1.22
B) 1.0
C) 0.82
D) 0.07

Question

Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8000 units to units. Use the midpoint formula to calculate the price elasticity of supply. 
A) 1.22 
B) 1.0 
C) 0.82 
D) 0.07

Quizplus · Accepted Answer

The Answer of Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8000 units to units. Use the midpoint formula to calculate the price elasticity of supply. 
A) 1.22 
B) 1.0 
C) 0.82 
D) 0.07

Suppose That the Price of a Money Clip Increases from $0.75