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When the Price of a CD Is $13 Per CD

Question 483

Multiple Choice

When the price of a CD is $13 per CD, 39,000,000 CDs per year are supplied. When the price is $15 per CD, 41,000,000 CDs per year are supplied. What is the elasticity of supply for CDs?


A) 2.86
B) 0.35
C) 0.14
D) 0.05

Correct Answer:

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