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Author Question: Suppose an increase in world demand for potash (used in the production of fertilizer) increases the ... (Read 55 times)

Scollins7

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on: Oct 12, 2022

Question 1

Suppose that as the price of some product increases from $4.00 to $5.00 per unit the quantity supplied rises from 500 to 1000 units per month. The price elasticity of supply for this product is
◦ 3.0.
◦ 2.0.
◦ 2.5.
◦ 0.33.
◦ 1.0.

Question 2

Suppose an increase in world demand for potash (used in the production of fertilizer) increases the price by 22 percent. Annual Canadian production increases by 33 percent. What is the elasticity of supply of Canadian potash?
◦ 1.0
◦ 0.33
◦ 0.22
◦ 1.5
◦ 0.67
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Scollins7 on Oct 12, 2022

viper01

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Scollins7

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

helenmarkerine

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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