Exhibit 5-8 Supply and demand curves for good X
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In Exhibit 5-8, the price elasticity of supply for good X between points E and X is:
A. 7/5 = 1.40.
B. 1/5 = 0.20.
C. 5/7 = 0.71.
D. 1.
Answer: C
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A. True B. False C. Uncertain
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A. sixteen B. twelve C. eight D. three
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Answer the following statement true (T) or false (F)