Answer it correctly please. if price elasticity of supply is 1.5 and priceincreases by 3%, quantity supplied willa. increase (correct)b. wrong answer =3%, which one is correct >3% or < 3%If price elasticity of supply is 1.5 and price increases by 3 percent,quantity supplied will increase9 by= 3 percent

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If price elasticity of supply is 1.5 and price increases by 3 percent, quantity supplied will increase 9 by = 3 percent

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 2E: The price elasticity of demand for personal computers is estimated to be 2.2. If the price of...

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Question

Answer it correctly please.

if price elasticity of supply is 1.5 and price
increases by 3%, quantity supplied will
a. increase (correct)
b. wrong answer =3%, which one is correct >
3% or < 3%
If price elasticity of supply is 1.5 and price increases by 3 percent,
quantity supplied will increase
9 by
= 3 percent

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