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Author Question: Suppose when the price of jean-jackets increased by 10 percent, the quantity supplied increased by ... (Read 66 times)

future617RT

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on: Jun 29, 2018
Suppose when the price of jean-jackets increased by 10 percent, the quantity supplied increased by 16 percent. Based on this information the price elasticity of supply of jean-jackets is
 
  A) 6. B) 1.6. C) 1.6. D) 0.625.

Question 2

It is possible to have an absolute advantage in producing a good or service without having a comparative advantage.
 
  Indicate whether the statement is true or false
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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T4T

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

TRUE


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