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Elasticity of supply when price decreases

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Reference no: EM131432034

The following data relate to the supply schedule of a product.

Price

Quantity Supplied

$5

100

10

200

15

250

20

300

25

350

30

500

Using the regular percentage change formula, what is the price elasticity of supply when price decreases from $20 to $15?

0.20.450.671

Reference no: EM131432034

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