16 The table gives the supply schedule for jeans. Price Quantity supplied (dollars per pair) (millions of
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16 The table gives the supply schedule for jeans. Price Quantity supplied (dollars per pair) (millions of pairs per year) 120 2,400 125 2,800 130 3,200 135 3,600 Calculate the elasticity of supply when a The price rises from £125 to £135 a pair. b The average price is £125 a pair.
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