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