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4. The equation for a supply curve is P = 3Q 8. What is the elasticity of supply in moving from a price of 5

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4. The equation for a supply curve is P = 3Q 8. What is the elasticity of supply in moving from a price of 5 to a price of 6? (2 points) Q1-20 Q1-20 Percent Change (Midpoint Method) in Quantity Demanded 100 (Qo+Q1)/2 (Qo+Q1)/2 = Percent Change (Midpoint Method) in Price 100.P1-Po P1-Po (Po+P1)/2 (Po+P1)/2

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