The price of one bedroom apartments in Cheyenne increased from $55,000 to $65,000 and the quantity of apartment for sale increased from 25 to 30. Using the midpoint method, the price elasticity of supply for apartments in Cheyenne is equal to
A) 0.916.
B) 0.75.
C) 1.09.
D) 2.18.
E) 0.08.
A
Economics
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At which point in Figure 9-7 would a perfectly competitive firm earn the same profit, or suffer the same loss, by producing rather than by shutting down?
a.
A
b.
B
c.
C
d.
D
e.
F
Economics
The decision by firms of the quantity of each input to demand is based on
A. the price of output. B. government oversight. C. the price of inputs. D. techniques of production available.
Economics