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Question
If the price elasticity of supply is 2.5, we know that it is
a. perfectly elastic.
b. perfectly inelastic.
c. unitary elastic.
d. relatively inelastic.
e. relatively elastic.
Answer
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Related questions
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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