Answered: Calculate the price elasticity of…

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Economics

Calculate the price elasticity of supply for each of the following combinations of price and quantity supplied.

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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