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The price elasticity of supply is 0.45. This means that a 5% reduction in price…
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Wize University Microeconomics Textbook > Elasticity
Price Elasticity of Supply
2 Activities
The price elasticity of supply is 0.45.
This means that a 5% reduction in price will lead to a
% decrease in
quantity supplied.
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More Price Elasticity of Supply Questions:
When the supply curve is perfectly elastic, an increase in demand will lead to