A firm producing stuffed toys experiences an increase in the demand for its main product, a cuddly

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A firm producing stuffed toys experiences an increase in the demand for its main product, a cuddly dog. because of an increase in its popularity. The price of the toy rises from $15 to $18. In response, the firm increases its output of the toy from 5,000 per week to 5,500 per week. 

1. Calculate the price elasticity of supply for the toy dog.

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Economics Course Book 2020

ISBN: 9781382004961

2020 Edition

Authors: Jocelyn Blink, Ian Dorton

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