A baker supplies 200 cupcakes when the price of cupcakes is $4.50, but supplies 280 when the price rises to $7.50. Using the midpoint formula, her elasticity of supply is equal to: O 1/3 O 1/2 O 1 2/3 Question 17 (1 point) Olga owns a pastry-shop which sells only chocolate croissants. Suppose last month she sold the croissants for $3 each and earned $300. This month she increases the price of croissant to $5 and earns $300. What is the price elasticity of demand for Olga's chocolate croissants? Perfectly elastic Inelastic Unit-elastic Elastic, but not perfectly elastic