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Suppose the price of tires increases from $100 per tire to $110. In response, the quantity of tires supplied increases from 30,000 to 35,000 tires.

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Suppose the price of tires increases from $100 per tire to $110. In response, the quantity of tires supplied increases from 30,000 to 35,000 tires. What is the price elasticity of supply for tires? Using the midpoint formula, the price elasticity of supply is . (Enter your response rounded to two decimal places.)

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