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A rise in the price of soybean from $500 to $700 per tonne causes the number of tonnes of soybean offered for sale to rises
A rise in the price of soybean from $500 to $700 per tonne causes the number of tonnes of soybean offered for sale to rises from 75 million to 120 million tonnes per year. Therefore, the price elasticity of supply of soybean is:(Choose the closest correct answer.) Question 18 options: 1.38 0.71 - 1.4 0.14
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Managerial economics
Authors: william f. samuelson stephen g. marks
7th edition
9781118214183, 1118041585, 1118214188, 978-1118041581
