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akch2002, Engineer
Category: Homework
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# At A Price Of \$1 Each, 100 Popsicles Are Sold Per Day

### Resolved Question:

Currently, at a price of \$1 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from \$1 to \$2 is unit-elastic (Es = 1.0). So how many popsicles will be sold each day in the short run if the prices rises to \$2 each?

In the long run a price increase \$1 to \$2 has an elasticity of supply of 1.50. So how many popsicles will be sold in the long run if the price rises to \$2 each?
(Hint Apply the midpoints approach to the elasticity of supply.)

I came up with 200 posicles in the short run and 150 in the long run. I'm pretty certain about the short run but not so much on the long run.

I also have to graph this in excel.

Submitted: 4 years ago.
Category: Homework
Expert:  akch2002 replied 4 years ago.

word file

Customer: replied 4 years ago.

Thanks for working to answer my question.

What formula would I use to graph these myself in excel? I see the graph in word, which is great, but I need to be able to do that in excel and turn in an excel document.

Thanks again!

Expert:  akch2002 replied 4 years ago.

You need to spend \$3 to view this post. Add Funds to your account and buy credits.
akch2002, Engineer
Category: Homework
Satisfied Customers: 3091
Experience: Home work expert

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