Suppose the price of copper increases from $2,000 to $2,400 per ton and the quantity supplied increases from 8 million tons to 12 million tons

Economics Dec 23, 2020

Suppose the price of copper increases from $2,000 to $2,400 per ton and the quantity supplied increases from 8 million tons to 12 million tons. Use the midpoint formula to compute the price elasticity of supply for copper.

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