APFIVE Calculating Price Elasticity of Supply
Suppose that when the price of milk increases from $2 to $3 per gallon, the quantity supplied increases from 500 to 600 gallons. What is the price elasticity of supply for milk?
A
2.0
B
1.0
C
0.5
D
0.4
Question Leaderboard
| Rank | |||||
|---|---|---|---|---|---|
| #1 | hubowen09 | 2 | 2 | 0m 00s | 200 |
| #2 | thesaeed011 | 1 | 2 | 3m 57s | -147 |
| #3 | 52218 | 1 | 4 | 4m 13s | -183 |
Items per page:
10
1 – 3 of 3