Question

Smates Chper aey Smartwork nca awnoon.com/18187 Trandate Gmad Youlbe Map News w209565234@student hcc lasticity: Homework 11/03/19 57% This is a Numeric Entry question/It is worth 3 points/You have unlimited attempts/There is no attempt penalty 09 Question (3 points) 5th attempt See Hint Suppose that an employee at a coffee shop is willing to work 30 hours per week when she is paid $12.00 per hour. When she is offered a raise to $16.00 per hour, she is willing to work 40 hours per week. (Note: use the midpoint method and give your answer to two decimal places.) Her price elasticity of supply is < 09/09 VIEW SOLUTION SUBMIT ANSWEE sOF 9 QUESTIONSCOMPLETED

Answer 1

Suppose that an employee at a coffee shop is willing to work 30 hours per week when she is paid $12.00 per hour. P = $12.00 Q = 30 hours. When she is offered a raise to $10.00 per hour, she is willing to work 40 hours per week. Py = $ 16.00; Q2 - 40 hours. According to midpoint method, prie elasticity of supply (Q2-Q.) (Q+Q)/2 (P2 +P;)/2 40-30 70/2 16.00-12.00 28.0072 10 35