For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.

Question

Question

180 - - - - - - -+ Supply PRICE (Dollars per unit) 90%- i X 30 30 QUANTITY (Units) For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic. Region

For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.

True or False: For high levels of quantity supplied where firms have reached near maximum capacity, supply becomes less elastic because firms may need to invest in additional capital in order to increase production further.

business economics

Add a comment Improve this question Transcribed image text

Answer 1

✔ Recommended Answer

Answer #1

Between Y and Z - inelastic

Between W and X - elastic

Flatter the curve higher is the elasticity.

True

Add a comment

Answer 2

For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.

Homework Answers

Add Answer to:
For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.

Post as a guest

Earn Coins

For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.

Homework Answers

Add Answer to: For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.

Post as a guest

Earn Coins

Add Answer to:
For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic.