I would like to see how this problem is worked out please, i try to do the problem but i dont get any of the awnsers, ive been told its B but i cant get that awnser:
Thompson seedless grapes prices decreased from$500/ton to $250/ton which resulted in grape growers decreasing the quantity they supplied from 500,000 tons to 400,000 tons. the elasticity of supply over that range of prices is
a.)0.11
b.)0.33