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lvnrn2012 lvnrn2012
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A year ago
Interpretation of Price Elasticity of Supply

Suppose that in the short run, the price elasticity of supply is 0.6 and in the long run the price elasticity of supply is 2.2. The price increases by 85%, the change in quantity supplied in the short run is ________ and the change in quantity supplied in the long run is ________. Round your final answer to one decimal place.

▸ 51, 187

▸ 187, 51

▸ 141.7, 38.6

▸ 38.6, 141.7
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Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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manuella14manuella14
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A year ago
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lvnrn2012 Author
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A year ago
this is exactly what I needed
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Just got PERFECT on my quiz
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This helped my grade so much Perfect
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