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Question
The price elasticity of supply is
a. constant across the short run and long run.
b. the percentage change in the quantity supplied divided by the percentage change in price.
c. always negative.
d. the slope of the supply curve.
e. the percentage change in the price divided by the percentage change in quantity supplied.
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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