Suppose that an increase in the price of grapse from 120 to


Suppose that an increase in the price of grapse from $1.20 to $1.40per pound raises the amount of grapes the grape farmers producefrom 1.2mil pounds to 1.6 mil pounds. Use the midpoint method, what would the elasticity of supply be?

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Macroeconomics: Suppose that an increase in the price of grapse from 120 to
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