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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

How is the price elasticity of supply calculated? Explain what it measures.

To determine
Price elasticity of supply.

Explanation

The price elasticity of supply, calculated as the percentage change in quantity supplied divided by percentage change in price measures how much the quantity supplied responds to changes in the price...

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