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When Price Rises from $1

question 67

Multiple Choice

When price rises from $1.50 to $2.50, quantity supplied increases from 9,000 to 11,000 units. What is the price elasticity of supply?


Definitions:

Distinguish

To distinguish means to recognize or treat (someone or something) as different from other people or things.

Injunction

A judicial order requiring a person or entity to do or cease doing a specific action.

Contract Law

A branch of law dealing with the formation, enforcement, and interpretation of agreements between parties.

Discharged by Agreement

The termination of contractual obligations through mutual consent of the parties involved.

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