A company producing 1000 phone protection covers a week when the price was $4. Their covers become very popular pushing up the price to $8. The next month they are producing 4000 cases a week. With this information answer the following: HW3 13 Homework Unanswered Determine the elasticity of supply for this company. (2 decimal places is the default answer) answer and submit

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Pall22_Microecon_KM Join: 746518
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Sep 16, 11:59 PM
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HW3 (Ch3 & 4)
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A company producing 1000 phone protection covers a week when the price was $4. Their covers become
very popular pushing up the price to $8. The next month they are producing 4000 cases a week. With this
information answer the following:
HW3 13
Homework Unanswered
Determine the elasticity of supply for this company. (2 decimal places is the default answer)
Type your numeric answer and submit
10am Fall22_Microecon_KM - Assigned | Top Hat
HW3 14
Homework Answered.
15/17 answered
MacBook Pro
Submit
O
Please type your answer to submit
Submit
05 + 88
Becca v
Open in Reading View
PERFECCCCE
how2ree
Transcribed Image Text:estions Pall22_Microecon_KM Join: 746518 Assigned 2 Gradebook o Handouts Sep 16, 11:59 PM Dashboard Que Sep 16, 11:59 PM < HW3 (Ch3 & 4) Homework Due in 2 days Unanswered B Melinda Lee Cantrell app.tophat.com Unanswered Ⓒ A company producing 1000 phone protection covers a week when the price was $4. Their covers become very popular pushing up the price to $8. The next month they are producing 4000 cases a week. With this information answer the following: HW3 13 Homework Unanswered Determine the elasticity of supply for this company. (2 decimal places is the default answer) Type your numeric answer and submit 10am Fall22_Microecon_KM - Assigned | Top Hat HW3 14 Homework Answered. 15/17 answered MacBook Pro Submit O Please type your answer to submit Submit 05 + 88 Becca v Open in Reading View PERFECCCCE how2ree
Expert Solution
Step 1

Here, given information is:

  • Initial quantity supplied in a week: 1000 
  • Final quantity supplied in a week: 4000
  • Initial price of phone protection covers: $4
  • Final price of phone protection covers: $8

To find: Elasticity of supply 

steps

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Solved in 2 steps

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