Calculate the coefficient of price elasticity midpoints, Ask an Expert

Economics

What is the formula for measuring the price elasticity of supply? Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1200 boxes of apples instead of 1000 boxes. Compute the coefficient of price elasticity (midpoints approach) for Goldsboro's supply. Is its supply elastic, or is it inelastic?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9283619

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