Question if a coal mining company would be willing to, Ask an Expert

Economics

Question: If a coal mining company would be willing to produce and sell 9 million tons a year at $150/ton, but would be willing to produce and sell 11 million tons a year at $250/ton,

- calculate its price elasticity of supply.

- Is this supply elastic or inelastic?

- If the price of coal were to remain at $250/ton over the next ten years (with no inflation in general prices), is this firm's supply curve likely to become more or less elastic?

- Explain why.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M93127118

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