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Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281 Exercise 5
What is the formula for measuring the price elasticity of supply Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1200 boxes of apples instead of 1000 boxes. Compute the coefficient of price elasticity (midpoints approach)for Goldsboro's supply. Is its supply elastic, or is it inelastic LO3.
Explanation
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To find the price elasticity of supply, ...
Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
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