Consider the quantity supplied of heated socks increased from 1,200 units to 2,000 units when the price increased from $50 to $75 per pair. What is the price elasticity of supply? (2 points) Answer: Elastic or Inelastic or Unit elastic - Circle, highlight, or bold your answer Show your calculations to support you answer using the midpoint method. (2 points) Provide an explanation: (0.5 points)