Calculate the elasticity of supply for pancakes

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Reference no: EM13898521

Consider two markets. The initial equilibrium for both markets is the same, P = $6.50, and Q = 41.0. When the price is $6.75, the quantity supplied of motorcycles is 53.0 and the quantity supplied of pancakes is 111.00. The demand for both goods is the same (for simplicity of analysis). Use this information to answer the questions below:

A. Using the midpoint formula, calculate the elasticity of supply for pancakes? Please round to two decimal places.

B. Supply in the market for motorcycles is:

Reference no: EM13898521

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