Inelastic and elastic or unit elastic

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Reference no: EM131082289

The George Company produces chicken feed. When the feed has a price of $5 per unit, it produces 20,000 units; when the price falls to $4 per unit, it produces 15,000 units. Calculate price elasticity of supply for the chicken feed, using the technique in the PowerPoints. You will interpret your answer in the next question.Enter only numbers, a decimal point, and/or a negative sign as needed. Round your answer to two decimal places as necessary; if you round on intermediate steps, use four places.

With respect to price, supply of the chicken feed just discussed is relatively:

inelastic, elastic, or unit elastic?

Reference no: EM131082289

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Inelastic and elastic or unit elastic : The George Company produces chicken feed. When the feed has a price of $5 per unit, it produces 20,000 units; when the price falls to $4 per unit, it produces 15,000 units. Calculate price elasticity of supply for the chicken feed, using the techniqu..

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