Question

Consider the following data for a demand curve: Price Quantity Supplied 3 20 4 30 5...

  1. Consider the following data for a demand curve:

Price

Quantity Supplied

3

20

4

30

5

40

6

50

7

60

8

70
  1. Calculate the price elasticity of supply between a price of $7 and $8.
  1. Calculate the price elasticity of supply between a price of $3 and $4.
  1. How does supply elasticity change as you move up the supply curve?
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