Suppose when the price of shoe laces goes from $1 to $2 per pair, production increases from 95 million pairs to 105 million pairs per year. Using the mid-point method, what is the price elasticity of supply?
A) 6.28
B) 0.66
C) 0.11
D) 0.15

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The Answer of Suppose when the price of shoe laces goes from $1 to $2 per pair, production increases from 95 million pairs to 105 million pairs per year. Using the mid-point method, what is the price elasticity of supply?
A) 6.28
B) 0.66
C) 0.11
D) 0.15

Suppose When the Price of Shoe Laces Goes from $1