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1 Dec 2018
Instructions: Choose the best answer for each question. Mark your answers on this exam and on your scantron sheet. You may not use any outside materials: calculators, smartphones, scratch paper, etc. There are 40 questions. 1. Suppose that an increase in the price of Widgets from $14 to $16 per Widget increases the quantity of Widgets supplied from 24 to 36 Widgets. Using the midpoint method, what is the elasticity of supply of Widgets? (a) 0.25 (b) 3 (c) 3.5 (d) 2.67
Instructions: Choose the best answer for each question. Mark your answers on this exam and on your scantron sheet. You may not use any outside materials: calculators, smartphones, scratch paper, etc. There are 40 questions. 1. Suppose that an increase in the price of Widgets from $14 to $16 per Widget increases the quantity of Widgets supplied from 24 to 36 Widgets. Using the midpoint method, what is the elasticity of supply of Widgets? (a) 0.25 (b) 3 (c) 3.5 (d) 2.67
larryrambo777Lv10
26 Mar 2023
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Keith LeannonLv2
4 Dec 2018
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