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Question regarding the elasticity of supply

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Elasticity of Supply

Suppose an economist stated that "food stamps serve only to drive food prices higher, not increase the quantity of food available to the poor." For this statement to be true, identify what the elasticity of supply would have to be and explain why. In addition, predict what the elasticity of supply would have to be for a food stamp program to increase the availability of food to the poor with no price increase and explain why.

You must develop a two- to three-page paper (not including title and reference pages) and be formatted according to APA style guidelines

Reference no: EM131104501

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