Business, 03.02.2020 23:52 willmandiaz23

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.
a. 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 price rises to $2 each?
b. in the long run, a price increase from $1 to $2 has an elasticity of supply of 1.50. so how many popsicles will be sold per day in the long run if the price rises to $2 each?

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