b. Suppose the price of apples goes up from $20 to $23 a box. In direct...

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b. Suppose the price of apples goes up from $20 to $23 a box. In direct response, Goldsboro Farms supplies 1,300 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoint approach) for Goldsboro's supply. Instructions: Round your answer to two decimal places. Es= c. Is its supply elastic or inelastic? b. Suppose the price of apples goes up from $20 to $23 a box. In direct response, Goldsboro Farms supplies 1,300 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoint approach) for Goldsboro's supply. Instructions: Round your answer to two decimal places. Es= c. Is its supply elastic or inelastic?

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