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Question: At the price and quantity without trade, what is the price elasticity of demand?  a. 7.5  b. 3.0 ...

Show transcribed image text At the price and quantity without trade, what is the price elasticity of demand? a. 7.5 b. 3.0 c. 1.0 d. 0.75 e. 0.25 At the price and quantity without trade, what is the price elasticity of supply? a. 10.0 b. 4.25 c. 2.5 d. 1.14 e. 0.87 Now, impose a price ceiling 5% below the price that occurs without trade. The percentage change in quantity supplied will be_____. a. 30% b. 11.4% c. 7.5% d. 5.7% e. 1.6% The percentage change in quantity demanded will be a. 15% b. 7.5% c. 3.8% d. 0.75% e. 0.25%

At the price and quantity without trade, what is the price elasticity of demand? a. 7.5 b. 3.0 c. 1.0 d. 0.75 e. 0.25 At the price and quantity without trade, what is the price elasticity of supply? a. 10.0 b. 4.25 c. 2.5 d. 1.14 e. 0.87 Now, impose a price ceiling 5% below the price that occurs without trade. The percentage change in quantity supplied will be_____. a. 30% b. 11.4% c. 7.5% d. 5.7% e. 1.6% The percentage change in quantity demanded will be a. 15% b. 7.5% c. 3.8% d. 0.75% e. 0.25%