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Assume the Price of Textbooks Rises from $90 to $110

Question 161

Multiple Choice

Assume the price of textbooks rises from $90 to $110 and the quantity supplied increases from 750 to 850 per week.Using the initial price method the price elasticity of supply is:


A) 1.67.
B) .60.
C) 1.5.
D) .12.

Correct Answer:

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