The accompanying table gives part of the supply schedule for smart speakers in the United States. Price of speaker Quantity of speakers supplied $180 510,000 120 360,000 Calculate the price clasticity of supply when the price increases from $120 to $180 using the midpoint method. O0.40 D116
The accompanying table gives part of the supply schedule for smart speakers in the United States. Price of speaker Quantity of speakers supplied $180 510,000 120 360,000 Calculate the price clasticity of supply when the price increases from $120 to $180 using the midpoint method. O0.40 D116
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 1SQ
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Transcribed Image Text:The accompanying table gives part of the supply schedule for smart speakers in the United States.
Price of
speaker
Quantity of speakers supplied
$180
510.000
120
360,000
Calculate the price clasticity of supply when the price increases from $120 to $180 using the midpoint method.
00.40
0116
035
0.86
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