In using the midpoint formula for price elasticity of supply, the numerator (the value on the top of a division problem) is:A.(P1 - P2 ) divided by the average of P1 and P2.B.(Q2 - Q1 ) divided by the average of Q1 and Q2.C.(Q1 - Q2 ) divided by the average of Q1 and Q2.D.%Q divided by %P.E.(P2 - P1 ) divided by the average of P1 and P2.

Suppose a seller produces Good B. For each question, select the correct answer from the dropdown box.(a) Suppose that when the price of Good B increases from $55 to $70, its quantity supplied increases from 56 units to 62 units. Using the midpoint formula, the price elasticity of supply is

a. What is the formula for measuring the price elasticity of supply? multiple choice 1Percentage change in quantity supplied/percentage change in incomePercentage change in quantity demanded/percentage change in incomePercentage change in quantity supplied/percentage change in pricePercentage change in quantity demanded/percentage change in price b. Suppose the price of apples goes up from R20 to R24 a box. In direct response, Goldsboro Farms supplies 1,400 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoints approach) for Goldsboro’s supply. Instructions: Round your answer to two decimal places. ES =  c. Is its supply elastic, or is it inelastic? multiple choice 2ElasticInelastic

Say your friend Nick sells skateboards. He sells 30 a week at $150. He then raises his price to $175 and sells 25. Use the midpoint formula to determine a fractional numerical value for the price elasticity of demand.A.24/26B.4/24C.4/143D.22/26E.13/11

Suppose the price of product X is reduced from $16.00 to $12.00 and, as a result, the quantity of X demanded increases from 300 to 450. Using the midpoint method, the price elasticity of demand for X in the given price range is:Group of answer choices1.401.000.400.29

Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $30 per basketball and $600 when the price is set at $20 per basketball. Without using the midpoint formula, identify whether demand is elastic, inelastic, or unit-elastic over this price range. Demand is multiple choiceinelastic.elastic.unit-elastic.