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When the Price of Perfume Changes from $24 to $26

Question 31

Multiple Choice

When the price of perfume changes from $24 to $26, the quantity supplied increases from 100 jars to 150 jars. What is the elasticity of supply of perfume?


A) 0.04
B) 0.2
C) 25.0
D) 5.0

Correct Answer:

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