Consider the market for a natural? resource, where the price is initially ?$12,000 per ton and 12,000 thousand tons are supplied.

Suppose the price of the resource falls to ?$11,000 per? ton, at which price the market supplies 11,000

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.)