Question: Find an expression, in terms of P, for the point elasticity of supply for the supply function Q=8P , valid for P is greater than

Find an expression, in terms of P, for the point elasticity of supply for the supply function Q=8P , valid for P is greater than or equal to 0 and Q is greater than or equal to 0. Hence choose the correct answer and explain why

A. The vertical intercept of the Supply function is the same of the horizontal intercept

B. 1% increase of Price will cause a 1% increase of Quantity

C. Supply is inelastic for any value of Q

D. None of the answers is right

E. Supply is unit elastic for any value of Q

F. Supply is elastic for any value of Q

G. When Price increases, Supply decreases

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