• The elasticity of supply coefficient for lobster is estimated to be equal to 0.5. What would a 10 percent decrease in price lead to? 
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• a. a 5 percent increase in the quantity of lobsters supplied 
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•  b. a 10 percent decrease in the quantity of lobsters supplied 
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• c. a 10 percent increase in the quantity of lobsters supplied 
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•  d. a 5 percent decrease in the quantity of lobsters supplied