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Suppose the Price of Textbooks Rises from $90 to $110

Question 47

Multiple Choice

Suppose the price of textbooks rises from $90 to $110 and the quantity supplied increases from 750 to 850 per week.Using the initial-price method,the price elasticity of supply is


A) 0.12.
B) 0.60.
C) 1.5.
D) 1.67.

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