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Author Question: Suppose an increase in world demand for potash (used in the production of fertilizer) increases the ... (Read 60 times)

jordangardner

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on: Oct 12, 2022

Question 1

Suppose a decrease in world demand for potash (used in the production of fertilizer) decreases the price by 5 percent. Annual Canadian production decreases by 2 percent. What is the elasticity of supply of Canadian potash?
◦ 1.0
◦ 0.2
◦ 0.4
◦ 0.5
◦ 2.5

Question 2

Suppose an increase in world demand for potash (used in the production of fertilizer) increases the price from $285 per tonne to $315 per tonne. Annual Canadian production increases from 15 million tonnes to 17 million tonnes. What is the elasticity of supply of Canadian potash?
◦ 1.0
◦ 0.8
◦ 2.5
◦ 0.5
◦ 1.25
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by jordangardner on Oct 12, 2022

msgero

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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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jordangardner

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Reply 2 on: Oct 12, 2022
Excellent

strudel15

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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