Question 5(Multiple Choice Worth 4 points) (02.04 MC) Price Quantity Supplied $1 4 units $2 6 units $3 8 units 64 10 units Based on the supply schedule above, which of the following is true of the product's price elasticity of supply? It is violating the law of supply. More information is needed. It is -0.6 when increasing from $1 to $2. It is 1.5 when increasing from $2 to $3. It is 0.75 when increasing from $3 to $4