Consider the market in the graph shown. Using the mid-point method, what is the price elasticity of supply when the price increases from $4 to $7?
A) 1.13
B) 0.4
C) 0.45
D) 0.89

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 $4 to $7?
A) 1.13 
B) 0.4 
C) 0.45 
D) 0.89

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 $4 to $7?
A) 1.13 
B) 0.4 
C) 0.45 
D) 0.89

Consider the Market in the Graph Shown