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A study of the effects of a dairy price support estimated the price elasticity of supply for milk is 12. Suppose that the government is

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A study of the effects of a dairy price support estimated the price elasticity of supply for milk is 12. Suppose that the government is considering raising the minimum price from $0.70 per gallon to $0.90 per gallon. Based on this information, calculate the percentage change in the quantity supplied of milk. Use the midpoint formula. Show work

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