Figure 5-15

-Refer to Figure 5-15.Using the midpoint method,what is the price elasticity of supply between $6 and $8?
A) 0.86
B) 1.00
C) 1.17
D) 1.25

Name: Figure 5-15 -Refer to Figure 5-15.Using the midpoint method,what is the price elasticity of supply between $6 and $8? A) 0.86 B) 1.00 C) 1.17 D) 1.25
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Question

Figure 5-15
 
-Refer to Figure 5-15.Using the midpoint method,what is the price elasticity of supply between $6 and $8?
A) 0.86 
B) 1.00 
C) 1.17 
D) 1.25

Quizplus · Accepted Answer

Using the midpoint method, the price elasticity of supply between $6 and $8 is:
[(40-30)/(40+30)/2] / [(8-6)/(8+6)/2] = 1.17. Therefore, the correct answer is C.

Figure 5-15 -Refer to Figure 5-15.Using the Midpoint Method,what Is the Price