What is the formula for measuring the price elasticity of supply? Es = (Click to select) A

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What is the formula for measuring the price elasticity of supply? Es = (Click to select)

A. percentage change in quantity supplied / percentage change in price

B. percentage change in quantity demanded / percentage change in income

C. percentage change in quantity demanded / percentage change in price

Suppose the price of apples goes up from $20 to $23 a box. In direct response, Goldsboro Farms supplies 1300 boxes of apples instead of 1200 boxes. Compute the coefficient of price elasticity (midpoints approach) for Goldsboro?s supply.

Instructions: Round your answer to two decimal places.

Es = Is its supply elastic, or is it inelastic? Supply is (Click to select)

A. Elastic

B. inelastic.