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Author Question: Interpretation of Price Elasticity of SupplySuppose that in the short run, the price elasticity of ... (Read 59 times)

warrenjean01

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on: Nov 23, 2022

Question 1

If the price elasticity of supply = 1.75, P=$68 and Qs = 74, what is the slope of the supply curve? Round your final answer to two decimal places.
◦ 0.91891892
◦ 0.62
◦ 1.60810811
◦ 0.53

Question 2

Interpretation of Price Elasticity of Supply

Suppose that in the short run, the price elasticity of supply is 0.6 and in the long run the price elasticity of supply is 2.2. The price increases by 85%, the change in quantity supplied in the short run is ________ and the change in quantity supplied in the long run is ________. Round your final answer to one decimal place.
◦ 51, 187
◦ 187, 51
◦ 141.7, 38.6
◦ 38.6, 141.7
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by warrenjean01 on Nov 23, 2022

dadgoere765

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Reply #1 on: Nov 23, 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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warrenjean01

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

gcook

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Reply 3 on: Yesterday
:D TYSM

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