b. Suppose the price of apples goes up from $20 to $24 a box. In direct response, Goldsboro Farms supplies 1,400 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoints approach) for Goldsboro's supply. Instructions: Round your answer to two decimal places. Es =O c. Is its supply elastic, or is it inelastic? Supply is ((CIlick to select)

b. Suppose the price of apples goes up from $20 to $24 a box. In direct response, Goldsboro Farms supplies 1,400 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoints approach) for Goldsboro's supply. Instructions: Round your answer to two decimal places. Es =O c. Is its supply elastic, or is it inelastic? Supply is ((CIlick to select)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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am. 111.
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