b. Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1,300 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoint approach) for Goldsboro's supply. Instructions: Round your answer to two decimal places. Es=

b. Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1,300 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoint approach) for Goldsboro's supply. Instructions: Round your answer to two decimal places. Es=

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 16PAE

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b. Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1,300 boxes of apples
instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoint approach) for Goldsboro's supply.
Instructions: Round your answer to two decimal places.
Es=

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