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
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 $3.00 to $4.00, the quantity supplied by a firm increased from 100 to 150 pens. The price elasticity of supply is |:| (Round your response to two decimal places.)
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