The table below shows the supply schedule for a firm. Calculate the price elasti...
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The table below shows the supply schedule for a firm.
Calculate the price elasticity of supply between $7 and $8.
| Price | Quantity |
| 1 | 0 |
| 2 | 0 |
| 3 | 0 |
| 4 | 0 |
| 5 | 2 |
| 6 | 4 |
| 7 | 6 |
| 8 | 8 |
| 9 | 10 |
| 10 | 12 |
| 11 | 14 |
| 12 | 16 |
| 13 | 18 |
| 14 | 20 |
| 15 | 22 |
| 16 | 24 |