The price of a good rises from $16 to $24, and the quantity supplied rises from 90

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The price of a good rises from $16 to $24, and the quantity supplied rises from 90 to 110 units.

Calculated with the midpoint method, the price elasticity of supply is

a. 1/5.

b. 1/2.

c. 2.

d. 5.

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Principles Of Microeconomics

ISBN: 9780357133484

9th Edition

Authors: N Gregory Mankiw

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Question Posted: Jan 27, 2024 11:01 PM

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The price of a good rises from $16 to $24, and the quantity supplied rises from 90

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Principles Of Microeconomics

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