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At a price of $15,000, producers of midsized automobiles are willing to manufacture and sell 85,000 cars per month. At a price of $25,000 they
At a price of $15,000, producers of midsized automobiles are willing to manufacture and sell 85,000 cars per month. At a price of $25,000 they are willing to produce and sell 145,000 a month. Compute the price elasticity of supply! Is supply elastic, unit elastic or in elastic?
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