E) Zero. 1,800. Using the midpoint method, the elasticity of supply equales caus
ID: 1103808 • Letter: E
Question
E) Zero. 1,800. Using the midpoint method, the elasticity of supply equales causes the price to increase from $2 to A) 0.86. B) 1.17. C) 2.74 D) 0.68 29) If the price doubles and the quantity supplied also doubles, the price elasticity of supply for the good is A) -1 C) -2. D) 2. E) 100 percent 30) If the price elasticity of supply for a good is 0.75, then A) the percentage change in the quantity supplied is less than the percentage change in price B) the supply is elastic. C) an increase in the price boosts the quantity supplied by a larger percentage. D) the supply is inelastic so the demand must also be inelastic. 31) f the percentage change in te price of a good exceeds the percentage changein the uantity suppled, ten the suppy hen the supply is B) inelastic. C) unit elastic IC 4 PageExplanation / Answer
28) 800/2 * 2/1000= 400/500= 0.8 Option A
29) B , 1( -2/-1*1/2)
30) E it only implies that the percentage change in quantity supplied is greater than % change in price and that it is inelastic.
31)B it will be inelastic because the value will be less than one since % change in price will be greater than % change in Quantity supplied
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