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Suppose that a regression study of quantity supplied as a function of price yielded the following equation: log Q = 5 . 2 + 1
Suppose that a regression study of quantity supplied as a function of price yielded the following equation: log Q log P
a What is the elasticity of supply?
b If price increased by by how much would the quantity supplied increase?
c What price increase would be required to increase the quantity supplied by
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