Problem
During the week of February 9-15, 2001, the U.S. rose market cleared at a price of $1.00 per stem, and 4 million stems were sold that week. During the week of June 5-11, 2001, the U.S. rose market cleared at a price of $0.20 per stem, and 3.8 million stems were sold that week. From this information, what would you conclude about the price elasticity of supply in the U.S. rose market?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.