Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 13PAE
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Question
Calculate the price elasticity of supply for each of the following combinations of price and quantity supplied. In each case, determine whether supply is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic in each case
- Price falls from $2.25 to $1.75; quantity supplied falls from 600 units to 500 units
- please in details you got 0.75 i got .29 would you please explain to me how you got it
- thank you so much
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