hliles4853 hliles4853
  • 11-09-2017
  • Business
contestada

The supply of product x is elastic if the price of x rises by

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andriansp andriansp
  • 19-09-2017
the answer to this question is 5% and the quantity supplied rises by 7%.
A product is considered as elastic if the change in prices will also affect the changes in total supply.
Usually, this type of products are not considered unique or rare and there are a lot of substitute for this product in the market
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