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trea48 trea48
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4 years ago

Question 1.

Suppose the current price of oil is $90 a barrel and the quantity supplied is 800 million barrels per day. If the price elasticity of supply for oil in the short run is estimated at 0.5, use the midpoint formula to calculate the percentage change in quantity supplied when the price of oil rises to $98 a barrel.



Question 2.

How can improvements in health increase a country's total income?

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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eltoroeltoro
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trea48 Author
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4 years ago
Thank you for answering so quickly
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