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    Microeconomics Principles Applications and Tools Study Set 2
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    Exam 5: Elasticity: a Measure of Responsiveness
  5. Question
    If the Price Elasticity of Supply Is
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If the Price Elasticity of Supply Is

Question 85

Question 85

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If the price elasticity of supply is .5,then a 10% increase in price will result in how much of a percentage change in quantity supplied? Will quantity supplied increase or decrease?

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