ADVANCED ANALYSIS Currently, at a price of $2 each, 250 popsicles are sold per day in the

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ADVANCED ANALYSIS Currently, at a price of $2 each, 250 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $2 to $4 is unit-elastic (E_s = 1). In the long run, a price increase from $2 to $4 has an elasticity of supply of 1.50. (Hint: Apply the midpoints approach to the elasticity of supply.)

Instructions: Enter your answers as a whole number.

a. How many popsicles will be sold each day in the short run if the price rises to $4 each?

popsicles

b.How many popsicles will be sold per day in the long run if the price rises to $4 each?

popsicles

Posted Date: Jun 21, 2024 12:10 AM

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ADVANCED ANALYSIS Currently, at a price of $2 each, 250 popsicles are sold per day in the

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