Multiple Choice
Assume that the price elasticity of demand for glass is 1.7 and the price elasticity of supply for glass is 0.8.If supply rises by 18%,the price of glass will
A) rise by 7.2%.
B) fall by 13.88%.
C) rise by 13.88%.
D) fall by 7.2%.
Correct Answer:
Verified
Correct Answer:
Verified
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