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Answer to Question #69353 in Microeconomics for Dalton James
Question #69353
If a 40% change in price results in a 25% change in quantity supplied, then the price elasticity of supply is about
Expert's answer
PEs = %∆Qs/%∆P
PEs = 25%/40% =0.625
PEs = 25%/40% =0.625
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