4. At a price of $8, the quantity supplied is 100 units. At a price of $9, the quantity supplied is 126 units. Price elasticity of supply for the good is approximately (Hint: Use the midpoint formula to calculate) O a. 0.51 O b. 1.96 O c. 2.99 O d. 1.05

4. At a price of $8, the quantity supplied is 100 units. At a price of $9, the quantity supplied is 126 units. Price elasticity of supply for the good is approximately (Hint: Use the midpoint formula to calculate) O a. 0.51 O b. 1.96 O c. 2.99 O d. 1.05

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 18P: Using the midpoint formula for calculating the elasticity of supply, if the price of a good rose...

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