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Calculate the price elasticity of supply in the following examples, then determine if supply is relatively elastic or inelastic, or perfectly elastic or inelastic. When

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Calculate the price elasticity of supply in the following examples, then determine if supply is relatively elastic or inelastic, or perfectly elastic or inelastic. When the price of a pen increased from $2.00 to $2.25, the quantity supplied by a firm increased from 300 to 500 pens. The price elasticity of supply is |:| (Round your response to two decimal places.)

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