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Suppose the supply equation is: Q = 8+0.70p. What is the price elasticity of supply if the market price is $3? (round your answer

Suppose the supply equation is: Q = 8+0.70p. What is the price elasticity of supply if the market price is $3? (round your answer to three decimal places). This means that if the price increases by 3%, the quantity supplied by % (round your answer to two decimal places). will

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