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The price elasticity of supply of a firm is 0.5. A rise in price to ETB 6 has induced a 10 percent rise in quantity
The price elasticity of supply of a firm is 0.5. A rise in price to ETB 6 has induced a 10 percent rise in quantity supplied by the firm. Find the initial level of price.
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
