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The table below illustrates the supply schedule of maize. Use it to answer this question.

                    PRICE(#)      QUANTITY SUPPLIED(kg)
                       24                    480
                       16                    400 

Determine the elasticity of supply for maize.

A.

0.3

B.

0.4

C.

0.5

D.

0.6

View answer & explanation

Correct answer is B

No explanation has been provided for this answer.

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