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7. If Max raises the price of his product, Max's Muchies, from $9 to $10, the quantity supplied of Max's Muchies rises from 15 bags
7. If Max raises the price of his product, Max's Muchies, from $9 to $10, the quantity supplied of Max's Muchies rises from 15 bags to 25 bags. Please answer problems a through c a. What is the price elasticity of supply between the price of $9 and $10? b. Based on your estimate from a is supply for Max's Muchies elastic, unit elastic or inelastic? Explain. c. What happens to the elasticity of supply for Max's Muchies if Max has difficulty finding workers to make his product? Does it become elastic or inelastic and WHY
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