For alarm clock supply, price rises from $12 to $13 and quantity supplied rises from 95 to 100 units. Using the midpoint method, what is the price elasticity of supply over this interval?

1. Percentage change in quantity: (100 minus 95) divided by the average of 100 and 95, which is 97.5, times 100, is about 5.13 percent. 2. Percentage change in price: (13 minus 12) divided by the average of 13 and 12, which is 12.5, times 100, is 8.0 percent. 3. Price elasticity of supply equals 5.13 divided by 8.0, which is about 0.64. 4. Since 0.64 is below one, supply is inelastic over this interval, unlike the elastic response at the lower end of the same table. 5. Option A's 2.83 was the elasticity at the lowest prices in this same table, where quantity jumped by a much larger percentage. 6. Option B belongs to a different point on this same supply table, and option C belongs to an unrelated demand elasticity table. _Source: OpenStax Principles of Microeconomics for AP Courses (CC BY 4.0), Ch 5 "Elasticity", section 5.1 | Price Elasticity of Demand and Price Elasticity of Supply_