6 The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell...
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6 The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers increases from 40 to 60. Price elasticity of supply for bell peppers is (A) 2.5 (B) 1.5 (C) 2.0 (D) 0.2 (E) 0.5 7 The price of a peach falls from $2 to $1.40. Quantity supplied for peaches falls from 100 to 85. Price elasticity of supply for peaches is (A) -0.5 (B) 2 (C) 0.3 (D) 0.15 (E) 0.5 8 Ifa sandwich shop can hire workers easily and the job does not require much training, sandwich ingredients are widely available and i used by other industries, and lots of retail space is available, price elasticity of supply for sandwiches is likely to be (A) greater than 1 (B) equal to 1 (C) less than 1 iFi negative If the price elasticity of demand for bananas is 2 in the short run. over the long run it is likely that price elasticity of demand for bananas will be (A) less than 2 (B) more than 2 (C) equal to 2 (D) less than 1 (E) seto 6 The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers increases from 40 to 60. Price elasticity of supply for bell peppers is (A) 2.5 (B) 1.5 (C) 2.0 (D) 0.2 (E) 0.5 7 The price of a peach falls from $2 to $1.40. Quantity supplied for peaches falls from 100 to 85. Price elasticity of supply for peaches is (A) -0.5 (B) 2 (C) 0.3 (D) 0.15 (E) 0.5 8 Ifa sandwich shop can hire workers easily and the job does not require much training, sandwich ingredients are widely available and i used by other industries, and lots of retail space is available, price elasticity of supply for sandwiches is likely to be (A) greater than 1 (B) equal to 1 (C) less than 1 iFi negative If the price elasticity of demand for bananas is 2 in the short run. over the long run it is likely that price elasticity of demand for bananas will be (A) less than 2 (B) more than 2 (C) equal to 2 (D) less than 1 (E) seto
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1 The price elasticity of supply for bell peppers can be calculated using the formula Price Elastici... View the full answer
Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date:
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