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Exhibit 5-8 Supply and Demand Curves for Good X

Question 231

Multiple Choice

Exhibit 5-8 Supply and demand curves for good X

-As shown in Exhibit 5-8, the price elasticity of supply for good X between points E and X is:

A) 1/5 = 0.20.
B) 1/11 = 0.91.
C) 1/2 = 0.50.
D) 5/11 = 0.45.

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