Question 2 Full explain this question Question 49If supply is perfectly inelastic and demand is relatively elastic, the tax burdenO falls primarily on consumers.is shared evenly by consumers and producers.O falls entirely on producers.O falls entirely on consumers.Show Transcribed TextQuestion 48If the price of a product falls by 15% and the quantity supplied falls by 25%, the elasticity of supply isO 0.40.0.10.ĆO 10.00.1.67.Show Transcribed Text

Given: The change in price is 15% Change in quantity supplied is 25% To find: elasticity of supply.

Answered: If the price of a product falls by 15%…

If the price of a product falls by 15% and the quantity supplied falls by 25%, the elasticity of supply is O 0.40. O 0.10. O 10.00. 1.67.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3.6P: (Price Elasticity of Supply) Calculate the price elasticity of supply for each of the following...

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Question

Question 2

Full explain this question

Question 49
If supply is perfectly inelastic and demand is relatively elastic, the tax burden
O falls primarily on consumers.
is shared evenly by consumers and producers.
O falls entirely on producers.
O falls entirely on consumers.
Show Transcribed Text
Question 48
If the price of a product falls by 15% and the quantity supplied falls by 25%, the elasticity of supply is
O 0.40.
0.10.
Ć
O 10.00.
1.67.
Show Transcribed Text

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