What are the supply schedule and the supply curve

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Assignment - Life University Principles of Macroeconomics Essay

1. What is a competitive market? Briefly describe a type of market that is not perfectly competitive

2. What are the supply schedule and the supply curve, and how are they related? Why does the supply curve slope upward?

3. If demand is elastic, how will an increase in price change total revenue? Explain

4. How is the price elasticity of supply calculated? Explain what it measures.

Reference no: EM133264922

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