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how do you calculate and what is being calculated Consider two markets: the market for Morcyclm and the market for parmkes. The initial equilibrium for

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how do you calculate and what is being calculated

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Consider two markets: the market for Morcyclm and the market for parmkes. The initial equilibrium for both markets is the same, the equilibrium prioe is $6.50, and the equilibrium quan1ity is 25.0. When the price is $3.75, the quantity supplied of motorcycles is 61.0 and the quantity supplied of pancakes is 1010. For sinrplicity ofanalysis, the demand for both goods is the same. Using the midlmint formula, calculate the elasticity of supply for pancakes. Please round to two decimal places. Supply in the market for motorcycles is O the same elasticity as supply in the market for pancakes. O laselasticthansupply in themarketforpancakes. Q There is not enough information to tell which has a higher elasticity. 0 more elastic than supply in the market for pancakes

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