Multiple Choice
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t- shirt maker would be willing to supply 100 t-shirts. Using the midpoint method, the price elasticity of supply for t- shirts is about
A) 0.37, and supply is elastic.
B) 0.37, and supply is inelastic.
C) 2.71, and supply is elastic.
D) 2.71, and supply is inelastid.
Correct Answer:
Verified
Correct Answer:
Verified
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