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Retnec Retnec
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If the coefficient of supply elasticity is 2, what must happen to housing prices to cause builders to expand the quantity of housing supplied by 30 percent?
A) Housing prices must rise by 60 percent.
B) Housing prices must rise by 15 percent.
C) Housing prices must fall by 15 percent.
D) Housing prices must rise by 6 percent.
E) Housing prices must fall by 6 percent.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
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hecosmetichecosmetic
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