Consider the market in the graph shown. Using the mid-point method, what is the price elasticity of supply when the price increases from $40 to $60?
A) 1.67
B) 0.4
C) 0.67
D) 0.60

Question

Consider the market in the graph shown. Using the mid-point method, what is the price elasticity of supply when the price increases from $40 to $60?
A) 1.67 
B) 0.4 
C) 0.67 
D) 0.60

Quizplus · Accepted Answer

The Answer of  Consider the market in the graph shown. Using the mid-point method, what is the price elasticity of supply when the price increases from $40 to $60?
A) 1.67 
B) 0.4 
C) 0.67 
D) 0.60

Consider the Market in the Graph Shown