Question
When the price of an item was raised from $12 to $18, the quantity supplied increased from 800 to 1200 per month.The price elasticity of
When the price of an item was raised from $12 to $18, the quantity supplied increased from 800 to 1200 per month.The price elasticity of supply is------
enter your response here?
(Round to two decimal places and use the midpoint formula.)Supply is
inelastic
elastic
indeterminate
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
