Question
1. Suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from $10 to $12 per unit. Compute the price elasticity of supply using the midpoint method
229
likes1145 views
Answer to a math question 1. Suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from $10 to $12 per unit. Compute the price elasticity of supply using the midpoint method
Jon
4.6110 Answers
mid point elasticity of supply=((Q2-Q1)/(Q2+Q1)/2)/(P2-P1)/((P2+P1)/2)
=(20/115)/(2/(11/2))
=0.478
Frequently asked questions (FAQs)
Math question: In a circle, if the angle at the circumference is half the central angle, and the central angle measures 60 degrees, what is the measure of the angle at the circumference?
+
Math question: Find the 4th derivative of y = 5x^3 - 2x^2 + 7x - 9.
+
What is the equation that represents an ellipse with its center at (h, k), major axis of length a, and minor axis of length b?
+
New questions in Mathematics