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Macroeconomics Midterm - Part 2 of 3!
SAMPLE
This is a sample practice set. In order to have a more personalized exam prep experience:
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4. Elasticity / Price Elasticity of Supply / Problem 7
Problem 7

A tech company increases the price of its software from \$100 to \$120, and the number of licenses supplied rises from 2,000 to 2,600. Calculate the price elasticity of supply and classify the supply as elastic, inelastic, or unit elastic.