A product’s supply function may be expressed as Q = 2P + 10, where Q is the quantity supplied, measured in kilos, and P is the price per kilo in dollars. The price drops from $15 to $10 per kilo. The value of price elasticity of supply for this price change falls within a range from
- A6/1 to 4/1
- B8/3 to 2/1
- C3/2 to 4/3
- D1/4 to 1/2