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Lauren1 Lauren1
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Posts: 4120
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10 years ago
If a 3 percent increase in the price of tennis shoes leads to a 7 percent increase in the number of tennis shoes supplied,
A) the elasticity of supply equals 0.43.
B) the elasticity of supply equals 2.33.
C) income elasticity equals 2.33.
D) supply is inelastic.
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MrDerecheMrDereche
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#1
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10 years ago
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Lauren1 Author
wrote...
#2
10 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
10 years ago
You're welcome!
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