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Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8,000 units to 10,000 units. Use the midpoint formula to calculate the price elasticity of supply.
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Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8,000 units to 10,000 units. Use the midpoint formula to calculate the price elasticity of supply.

User Luddig
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1 Answer

4 votes

Answer:

The price elasticity of supply is 1.22

Step-by-step explanation:

Please refer to the attached file

Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity-example-1
User Toddg
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