12/03 seated class Jacqueline Mendiola =10/02/22 11:24 PM 1-6.6 Other Elasticity Question 35, Concept: Measure Supply Elasticity HW Score: 82.2%, 36.17 of 44 points Part 1 of 2 O Points: 0 of 1 Save Consider the market for a natural resource, where the price is initially $8,000 per ton and 16,000 thousand tons are supplied Suppose the price of the resource falls to $7,500 per ton, at which price the market supplies 15,500 thousand tons. What is the price elasticity of supply between these prices? Using the midpoint formula, the price elasticity of supply is | (Enter your response as a real number rounded to two decimal places)