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If a 25% Change in Price Results in a 40

Question 397

Multiple Choice

If a 25% change in price results in a 40% change in quantity supplied,then the price elasticity of supply is

A) 0.63,and supply is elastic.
B) 0.63,and supply is inelastic.
C) 1.60,and supply is elastic.
D) 1.60,and supply is inelastic.

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