Currently at a price of 1 each 100 popcycles are sold per, Econometrics

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Currently at a price of 1 each 100 popcycles are sold per

Currently, at a price of $1 each, 100 popcycles are sold per day in the perpetually hot town of Rostin. Consider the elastictiy of supply. In the long run a price increase from $1-$2 has an elastic supply of 1.5. So how many popcycles will be sold per day in the long run if the price rises to $2 each?

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Econometrics: Currently at a price of 1 each 100 popcycles are sold per

Reference No:- TGS0580205

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Ask an Expert for Answer!!

Econometrics: Currently at a price of 1 each 100 popcycles are sold per

Reference No:- TGS0580205

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