Suppose that when the price of laundry detergent increases from $3.5 to $4.3 quantity supplied increases from 210 to 230.

Using the mid-point elasticity approach, calculate price elasticity of supply.

Hint

Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity

Suppose that when the price of cereal decreases from $4 to $3.4, quantity supplied decreases from 240 to 200.

Using the mid-point elasticity approach, calculate price elasticity of supply.

Hint

Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity

Suppose that the price of laundry detergent decreases from $4.3 to $3.4. As a result, quantity supplied decreases from 240 to 200.

Based on this information classify the supply curve.

Hint

Box 1: Select the best answer

Consider the following supply schedule for jeans.

Suppose that the price of jeans increases from $14 to $21.

Using the mid-point approach, calculate price elasticity of supply.

Hint

Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity

Consider the following supply schedule for bags.

Suppose that the price of bags increases from $12 to $18.

Using the mid-point approach, calculate price elasticity of supply.

Hint

Box 1: Select the best answer