question archive Suppose that, when the average price of shoes increases by 5%, the quantity supplied of shoes increases by 8%
Suppose that, when the average price of shoes increases by 5%, the quantity supplied of shoes increases by 8%
Subject:EconomicsPrice:2.88 Bought3
Suppose that, when the average price of shoes increases by 5%, the quantity supplied of shoes increases by 8%.
What is the price elasticity of supply?
Is the supply of shoes elastic or inelastic?
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