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Question
Identify the elasticities of the supply curves given below.
Options
S1 : Relatively elastic: S2 : Relatively inelastic
S1 : Perfectly elastic: S2 : Perfectly inelastic
S1 : Relatively inelastic, S2 : Relatively elastic
S1 : Perfectly inelastic : S2 : Unitary elastic
Solution
S1 : Relatively elastic: S2 : Relatively inelastic
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