Elasticity of supply using the data below answer the, Business Economics

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Elasticity of supply using the data below answer the

Elasticity of supply: Using the data below, answer the following questions:

Close Substitutes Quantity Demanded Price Quantity Supplied

5 80 $10 120

5 100 $8 100 .

(a) Write out the midpoint formula for elasticity of supply (formula only, no numbers):

Es =

(b) Use the data from above to calculate the elasticity of supply:

Es =

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Business Economics: Elasticity of supply using the data below answer the

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