a-manufacturer-increases-output-from-5000-to-6500-units-when-the-price-rises-fro

Question

A manufacturer increases output from 5,000 to 6,500 units when the price rises from $$200 to 250. $$What are the percentage changes in quantity supplied and price using the midpoint method?

Accepted Answer

26.09% (quantity), 22.22% (price)

Answer

20.00% (quantity), 12.50% (price)

Answer

15.00% (quantity), 10.00% (price)

Answer

30.00% (quantity), 25.00% (price)

A manufacturer increases output from 5,000 to 6,500 units when the price rises from \$200 to \$250. What are the percentage changes in quantity supplied and price using the midpoint method?