June makes holiday wreaths and sells them during the holiday season. The figure above shows her supply curve of wreaths per week. Use the midpoint method in this problem
a. Calculate the percentage change in quantity between points A and B.
b. Calculate the percentage change in price between points A and B.
c. Calculate the price elasticity of supply between points A and B.
a. The percentage change in quantity is 20 percent.
b. The percentage change in price is 20 percent.
c. The price elasticity of supply is 1.0.
Economics
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