Suppose a new type of tea is found to be healthy Thes made the equilibrium price rise by 20% As a result, the quantity of tea supplied increased by 40% The price elasticity of supply of tea is OA 20 OB. -2.25 Oc.-080 OD 125

Suppose a new type of tea is found to be healthy Thes made the equilibrium price rise by 20% As a result, the quantity of tea supplied increased by 40% The price elasticity of supply of tea is OA 20 OB. -2.25 Oc.-080 OD 125

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 16SQ

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Question

Suppose a new type of tea is found to be healthy This made the equilibrium price rise by 20% As a result, the quantity of tea supplied increased by 40% The price
elasticity of supply of tea is
OA 20
OB-225
OC.-0.80
OD. 125

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