Try another version of this question Suppose that when the price of peanut butter increases from $3.5 to $4 quantity supplied increases from 200 to 240. Using the mid-point elasticity approach, calculate price elasticity of supply. Suppose that when the price of cereal decreases from $4.1 to $3.9, quantity supplied decreases from 260 to 180. Using the mid-point elasticity approach, calculate price elasticity of supply. Suppose that the price of cereal decreases from $4.3 to $3.8. As a result, quantity supplied decreases from 230 to 190. Based on this information classify the supply curve. Consider the following supply schedule for bags. Suppose that the price of bags increases from $24 to $28. Using the mid-point approach, calculate price elasticity of supply. Consider the following supply schedule for shoes. Suppose that the price of shoes increases from $18 to $24. Using the mid-point approach, calculate price elasticity of supply. Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 2: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 3: Select the best answer Box 4: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 5: Select the best answer
Price Quantity Supplied $4 412 $8 424 $12 436 $16 448 $20 460 $24 472 $28 484 $32 496 Price Quantity Supplied $6 424 $12 442 $18 460 $24 478 $30 496 $36 514 $42 532 $48 550
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity