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Card 7 / 18:
From the data shown in about supply of alarm clocks, calculate the price elasticity of supply from: point J to point K, point L to point M, and point N to point P. Classify the elasticity at each point as elastic, inelastic, or unit elastic.
From point J to point K, price rises from $8 to $9, and quantity rises from 50 to 70. So:
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