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A Price Increase from $43 to $49 Results in an Increase

Question 60

Multiple Choice

A price increase from $43 to $49 results in an increase in quantity supplied from 220 units to 240 units. The price elasticity of supply in this price range is


A) 0.3.
B) 0.67.
C) 1.5.
D) 3.33.

Correct Answer:

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