At a price of $1.20, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.40, the coffee shop would be willing to supply 150 cinnamon rolls per day. Using the midpoint method, the price elasticity of supply is about
A) 0.15
B) 2.5
C) 0.375
D) 2.60

Question

Quizplus · Accepted Answer

The Answer of At a price of $1.20, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.40, the coffee shop would be willing to supply 150 cinnamon rolls per day. Using the midpoint method, the price elasticity of supply is about
A) 0.15
B) 2.5
C) 0.375
D) 2.60

At a Price of $1