Question: 12 Question (2 points) A 40% increase in price led the quantity supplied of pencils in a competitive market to increase from 350.00 to 380.00.

12 Question (2 points) A 40% increase in price led the

12 Question (2 points) A 40% increase in price led the quantity supplied of pencils in a competitive market to increase from 350.00 to 380.00. v 5th attempt Part 1 (1 point) What is the price elasticity of supply for pencils? Give your answer to two decimals. -1095000

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2. Information that comes most readily to mind (availability).

3. An initial value (anchoring).

4. Similarity (representativeness).