Calculate the price elasticity of supply

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Assume that the price of smartphones increased from $600 to $666 per unit. The manufacturer decides to supply 14,000 units instead of 10,000. Calculate the price elasticity of supply. Is supply elastic or inelastic?

Reference no: EM13996092

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Calculate the price elasticity of supply : Assume that the price of smartphones increased from $600 to $666 per unit. The manufacturer decides to supply 14,000 units instead of 10,000. Calculate the price elasticity of supply. Is supply elastic or inelastic?

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