Determine the numerical value of price elasticity of supply, Microeconomics

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Determine the numerical value of price elasticity of supply

Problem

Consider a point on a supply curve where price and quantity are positive. Determine the numerical value of the price elasticity of supply at that point when the supply curve is

a) vertical at a positive quantity

b) horizontal at a positive price

c) a straight line through the origin, with a positive slope.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Determine the numerical value of price elasticity of supply

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