Question: please answer question a. and d. by using this graph. 3. Problem 3 - 14 Marks Price $10 8 6 O 100 150 200 250

please answer question a. and d. by using this graph.

3. Problem 3 - 14 Marks Price $10 8 6 O 100 150 200 250 300 Quantity a. Refer to Figure above. Calculate the coefficient of elasticity of supply, the Es between point A and B, using the midpoint method. 4 Marks b. If "S" is the market supply, what is the total revenue when the market equilibrium price is $ 6/unit? 3 Marks c. If the equilibrium market price increases to $8/unit, what is the % increase in total revenue for suppliers? 3 Mark d. State two factors that could cause the market equilibrium price to drop from $6/unit to $4/unit. 4 Marks

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