Order the answer to: The accompanying table gives part of the supply schedule for

Assignment Help business-economics Order the answer to: The accompanying table gives part of the supply schedule for

business-economics

Order the answer to: The accompanying table gives part of the supply schedule for

Question The accompanying table gives part of the supply schedule for personal computers in the United States.
Price of computer Quantity of computers supplied
$1,100……………………………. 12,000
900……………………………….. 8,000
a. Calculate the price elasticity of supply when the price increases from $900 to $1,100 using the midpoint method.
b. Suppose firms produce 1,000 more computers at any given price due to improved technology. As price increases from $900 to $1,100, is the price elasticity of supply now greater than, less than, or the same as it was in part a?
c. Suppose a longer time period under consideration means that the quantity supplied at any given price is 20% higher than the figures given in the table. As price increases from $900 to $1,100, is the price elasticity of supply now greater than, less than, or the same as it was in part a?
Subject business-economics
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