Now calculate the same elasticities at p = $12

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Consider the following three supply curves: P = 2.25Q; P = 2+2Q; P = 6+1.5Q.

(a) Draw each of these supply curves to scale, and check that, at P = $18, the quantity supplied in each case is the same.

(b) Calculate the (point) supply elasticity for each curve at this price.

(d) One elasticity value should be unchanged. Which one?

Reference no: EM131072984

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