Suppose that as the price of some product increases from to $5.50 per unit the quantity supplied
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Question:
Suppose that as the price of some product increases from to $5.50 per unit the quantity supplied rises from 800 to 1,300 units per month. Calculate the price elasticity of supply for this product.
A. 3.18
B. 0.42
C.2.08
D.2.38
E.1.88
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