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An Increase in the Price of Hamburger from $3 to $4

Question 85

Multiple Choice

An increase in the price of hamburger from $3 to $4 leads to an increase in quantity supplied from 100 units to 150 units.At the original price,the price elasticity of supply for hamburgers is _____ and at this point the supply curve is _______.


A) 2/3;elastic
B) 2/3;inelastic
C) 3/2;elastic
D) 3/2;inelastic

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