Business
Business, 14.03.2020 00:16, LEXIEXO

Consider two markets: the market for cat food and the market for dog food. The initial equilibrium for both markets is the same, the equilibrium price is $ 0.50 , and the equilibrium quantity is 27.0 . When the price is $ 7.75 , the quantity supplied of cat food is 75.0 and the quantity supplied of dog food is 103.0 . For simplicity of analysis, the demand for both goods is the same. Using the midpoint formula, calculate the elasticity of supply for dog food. Please round to two decimal places.

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Consider two markets: the market for cat food and the market for dog food. The initial equilibrium f...

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