Illustrate how do these two relate to each other

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Q. When the price of paper increases from $100 to $104 per ton, the quantity supplied increased from 200 to 220 tons per day. What is the price elasticity of suppy?

Q. Illustrate how do these two relate to each other in the Circular Flow Economy and to the Government and Foreign Sector components? How does all this fit on a Wheel of Income?

Reference no: EM1355927

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