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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

If a fixed quantity of a good is available, and no more can be made, what is the price elasticity of supply?

To determine
Price elasticity of supply when the quantity supplied is fixed.

Explanation

Since the fixed quantity of a good is available and no more can be produced, there will be no change in the quantity suppl...

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