demitae8768 demitae8768

23-04-2024
Business

Answered

Suppose the price of a good increases from $21 to $24, and the quantity supplied increases from 240 goods to 300 goods. Using the midpoint method, what is the type of elasticity in this situation?

a. Elastic supply
b. Zero elasticity of supply
c. Inelastic supply

Answer :

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