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Is there a price at which supply function is unit elastic

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Reference no: EM13877335

Suppose the market supply function is Qs = -500 + 50P where P > 10

(a) Determine the price elasticity of supply η at prices $15, $20, and $25.

(b) Is there a price at which this supply function is unit elastic?

Reference no: EM13877335

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