Unformatted text preview: of cars would? Increase /Decrease/Remain unchanged 5) If P = 50 + 2Qs then Qs = 0.5P - 25 6) If P = 300 then Qs = 1 25 Quantity supplied of X Price of X 80 $140 $100 Q7) Using the table above, what is the price elasticity of supply using the arc/midpoint formula? PED = + 6 (elastic)...
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- Fall '08
- Price Elasticity, wage increase, arc/midpoint formula