The figure above shows the supply curve for roses.
-In the figure above,at the point where the price is $60 per bunch,the price elasticity of supply is
A) 1.8.
B) 0.56.
C) 1.
D) 1.5.
E) 0.

Question

The figure above shows the supply curve for roses.
-In the figure above,at the point where the price is $60 per bunch,the price elasticity of supply is
A) 1.8. 
B) 0.56. 
C) 1. 
D) 1.5. 
E) 0.

Quizplus · Accepted Answer

The price elasticity of supply is calculated as the percentage change in quantity supplied divided by the percentage change in price. At the $60 price point, the graph would typically show a specific slope or change in quantity supplied for a given change in price. The correct elasticity value (1.8 in this case) would be determined by this calculation, indicating a relatively elastic supply at that price point.

The Figure Above Shows the Supply Curve for Roses